Lincoln-Way D210 Refinances 2009 Bonds

NEW LENOX, IL — At its Nov. 21 meeting, the Lincoln-Way District 210 board of education approved the restructuring of bonds from 2009. In February, the district said the board adopted seven long-term debt objectives, designed to ensure fiscal responsibility, for managing the district’s debt obligations.

According to the district, the board decided the most appropriate approach to refinancing the district's long-term debt is by using a "multi-phased approach," starting with the refinancing of the 2009 bonds.

The restructuring of the 2009 bonds will lower the 2019 tax bill by $101 and the 2020 tax levy by $81 with an assessed value of a $300,000 home.

“Tonight’s decision to restructure the 2009 bonds is the first step in the district’s proactive approach to managing our long-term debt,” said Superintendent Dr. Scott Tingley.