Notice of Public Hearing Concerning the Intent
Of the Board of Education of
Community Unit School District Number 300,
Rock Island and Mercer Counties, Illinois
To Sell $33,000,000 Building Bonds
PUBLIC NOTICE IS HEREBY GIVEN that Community Unit School District Number 300, Rock Island and Mercer Counties, Illinois (the “District”), will hold a public hearing on the 13th day of January, 2025, at 6:30 o’clock P.M. The hearing will be held at the Rockridge High School, 14110-134th Avenue West, Taylor Ridge, Illinois. The purpose of the hearing will be to receive public comments on the proposal to sell bonds (the “Bonds”) in the amount of $33,000,000 to build and equip a new elementary school building, demolish, alter, repair and equip existing school buildings and improve school sites.
The Bonds are estimated to be outstanding for 30 years. The total debt service to be paid on the Bonds, including principal, interest and costs of issuing the Bonds, is estimated to be $60 million. The average annual property tax needed to pay the principal of and interest on the Bonds extendable against property containing a single-family residence and having a fair market value of $100,000 is estimated to be $158.
The actual number of years during which the Bonds will be outstanding, the actual total debt service to be paid on the Bonds and the actual average annual property tax to pay the principal of and interest on the Bonds extendable against property containing a single family residence and having a fair market value of $100,000 are subject to change based on many factors, including market conditions at the time the Bonds are sold. Any differences between the information set forth herein and the actual results at the time the Bonds are sold shall not invalidate the hearing or the results of the referendum for the Bonds.
By order of the President of the Board of Education of Community Unit School District Number 300, Rock Island and Mercer Counties, Illinois.
DATED the 16th day of December, 2024.
Drew Scharer
Secretary, Board of Education,
Community Unit School District Number 300,
Rock Island and Mercer Counties, Illinois