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Galesburg School Board Looking to Authorize Bond Issuance for Silas Construction

WGIL Newsroom . Local News 224

205logobwAfter officially deciding at their last meeting to construct a new Silas Willard Elementary School, financing the project is now the next step.

The Galesburg School Board is scheduled to approve several resolutions that call for issuing general obligation bonds.

Decisions were delayed due to the number of community members expressing an interest in saving the current Silas buildng for its historic value to the Galesburg community.

Prior to issuing the bonds, the district must first hold a public hearing on the matter.

The $12 Million slated to be issued puts the district at its maximum bonding capacity for the school’s construction.

According to district documents, the resolution gives notice that if a petition is signed by just more than 1,500 electors, the matter can be put to a vote in November.

District 205 expects to pay for the project using proceeds from the county facility sales tax.

Tonight’s meeting begins at 7:00 this evening at the Lincoln school.