Why is Palatine CCSD 15 Borrowing Without Voter Approval?

Palatine District 15 is looking to issues bonds (borrow money) without voter approval. This money is to be used in their working cash fund and in new construction projects. The problem is they are not getting voter approval to do this because legally they don’t have to. This is called a back door referendum.

According to school board member Tim Millar:

The bond issues will nearly double our debt from $63,000,000 to $114,000,000. This approximate $51,000,000 includes the bonds and the interest over the life of the bond. This is a $51,000,000 tax increase over 20 years to all D15 tax payers.

You can read how the school district spins it at their website

Basically, what is happening is the district wants to increase and extend the debt the district owes with new debt. The taxpayer gets saddled with current and a larger future debt and they don’t even get to say yes or no. This is just more government arrogance and the trampling of taxpayers. To stop this atrocity, visit Tim Millar’s site and help him gather signatures to force the district to put this on the ballot.