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STHS Board District approved borrowing $ 12 million for upcoming projects

STREATOR – Streator High School’s board agreed to take out bonds to help fund projects. The district agreed to borrow its maximum bond amount of $12 million, that will be paid back in 20 years for its auditorium, asbestos and fire alarm projects. Superintendent Matt Seaton say he has no concern maintaining a flat tax rate annually. Seaton noted that potential exists for the tax rate to drop due to the wind farm expansion east of Streator. He says this will be a net gain on the Equalized Assessed Value, which in turn will cause the bond tax rate to go down. Under statue, the district is allowed to borrow over the limit in dire circumstances. Seaton believe there’s no risk to the district in regards to a tax rate increase, as he says they are running on a healthy surplus and projected for a healthy surplus for the next 5 years.

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