The original bond issue is the one that financed the 2004 construction of Geneva Middle School North.
On Dec. 1, Geneva Community Unit School District 304 completed a bond refunding for the 2004A bond issue. The 2004A bond issue financed the construction of Geneva Middle School North following a successful Nov. 2, 2004, referendum. The General Obligation Refunding Bond, Series 2011 is a partial refund of the 2004A issue, with the remaining amount to be refunded in the spring. The district will realize a savings of $742,379 on this portion of the refunding and an estimated $1,037,526 savings overall. The refunding did not extend the time for the debt to be paid but lowered the payments by an average of $130,000 per year. The district maintained a AA+ rating with Standard & Poors to receive the best interest rate possible on the transaction…
Les Dixon
5:16 pm on Friday, December 23, 2011
Between a rock and a hard place - house prices going down and taxes going up. Hope we can exit in 4-5 years. I don't want to think about our tax bill at that time. Les more ›