Published on June 30, 2025 6:40 pm
Last Updated on June 30, 2025 6:40 pm
Effingham Unit 40 school board members Monday voted to pay off outstanding debt certificates prior to their maturity.
The debt certificates were issued in May and totaled $36,273,179 and would’ve been paid off had bonds been issued for the construction of a Grades K-2 building. Instead, the debt certificates will be paid off, plus the interest that has been earned on them. That amount totals $166,655. Assistant Superintendent Kelsey Baker said the debt certificates and interest will be paid off tomorrow (TUESDAY).
As to where the Board goes from here regarding whether to pursue new construction and what form that might take, Board President Jill Wendling said there will be a Board retreat to decide how to proceed.
Also Monday, the Board rejected the Guaranteed Maximum Price Agreement with Holland Construction for work at South Side School. Wendling said the work could not be completed in time for the new school year. The one exception is tuckpointing work to stop leaking at the building, which will be done this summer. The District has contacted contractors to do the work.
