Hinsdale D86 Wants To Borrow $82M, Tax Hike Expected

HINSDALE, IL – Hinsdale High School District 86 is looking to borrow $82 million to build up its working cash and pay for projects deemed to benefit "life safety."

The school board plans to take action on more than half the debt Tuesday.

Last month, school board members spoke about going into debt for $39 million for life safety projects.

The hike would cost the owner of a $570,000 house, the district's median, $83 more in taxes the first year, with an additional $10 added annually over the next decade, the district said in August.

Now, the district says it needs $36 million for such projects, according to a memo released Thursday. Under state law, the district doesn't need to get voters' approval of a tax hike, as long as the projects are for life safety.

The memo also stated that the district needs to borrow $46 million to increase its working cash fund. It said the money would be for capital improvements, but did not specify the work.

Patch left phone and email messages early Friday morning with Josh Stephenson, the district's top finance official. He did not return them.

Patch also texted board member Jeff Waters, the finance committee's chairman. He responded, "There will be a presentation on Tuesday night."

As for the life safety work, the most expensive is replacing Hinsdale Central's heating plant, costing an estimated $17 million. Officials have talked about that need for years.

At Tuesday's meeting, a public hearing is planned on the district's borrowing. The board is being asked to vote on approving the issuance of $46 million in bonds. The $36 million is not on the agenda for action.

The meeting starts at 7 p.m. at Hinsdale Central's library