Lincoln-Way D210 Restructures Bonds to Reduce Tax Rate

Restructuring $225 million in bonds is expected to save taxpayers money.

The  Lincoln-Way High School District 210 Board of Education Thursday approved a bond refunding resolution to restructure the debt in a way that reduces the total tax rate by 7-to-8 cents. "We have explored options of either generating more revenue or helping our taxpayers by reducing the bond and interest rate. Unfortunately, we cannot generate any additional revenue, but we can take advantage of probably the lowest bond rate we may ever see and help reduce costs to our taxpayers," said Supt. Lawrence Wyllie. In a presentation last month on the debt restructuring plan, Wyllie explained how restructuring $225 million in bonds would work to reduce the actual tax rate.  Despite the approved $3.5 million tax levy increase for 2012, the …

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