District 202 Approves Selling $17 million in Tax Warrants
The money will help schools pay bills until taxes are received this summer.
Editor's note: The following is a press release issued by Plainfield School District 202. The District 202 Board of Education at its January 28, 2013 regular meeting approved selling $17 million in tax anticipation warrants to meet cash flow needs for operating expenses until taxes are received this summer. Tax anticipation warrants are short-term loans. Governments typically use them to bridge the gap between the first installment of property taxes received in September, and the second installment which doesn’t arrive until June. Read: The bond sale is expected to cost the district about $76,000 in interest and fees. District 202 has a long history of strong, conservative fiscal management, and had not had to borrow money to meet …
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JD
3:57 pm on Thursday, February 28, 2013
I'm sure the funds will be appropriated correctly, similar to the lottery. more ›