- Moving 15 Forward
- Original Funding Plan
Thank You For Your Support!
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District 15 Referendum Results:
☑ YES: 62.67% | NO: 37.33%
District 15 voters overwhelmingly approved a referendum to move our schools and our district forward.
Original Funding Plan
2023.10
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Pricing Report for Series 2023 A&B Bonds
Elizabeth Hennessy, Managing Director at Raymond James and Diana McCluskey, Chief School Business Official, provided an update on the October 3, 2023, competitive sale of General Obligation Bonds Series 2023A and General Obligation Bonds (Alternate Revenue Source) Series 2023B.
The competitive sale for the District’s Aa2-Rated General Obligation School Bonds resulted in 6 bids for the Series 2023A Bonds and 7 bids for the Series 2023B ARS Bonds.
The sale of the $43,000,000 Series 2023A bonds completes the issuance of the referendum approved bonds with an all-in true interest rate of 4.602%. The monthly tax impact is $12.18 per month for a $300,000 market value home which is very close to information shared with the community during the referendum campaign ($12.16 per month).
The District also issued the $40,000,000 Series 2023B alternate revenue bonds with an all-in true interest rate of 4.71% that are repaid from the operating funds. The District budgeted for this payment for the first time this year at $3,000,000. The annual payments will be on average $3,075,000 which is very close to the budgeted amount.
Mrs. Henessey shared that given the volatility of the market, we are very happy the interest rates are locked in now for the majority of the “Moving 15 Forward” financings within the parameters discussed with the voters.
2023.08
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Moody's Rating Action: Moody's assignsAa2 to Cook County CCSD 15 (Palatine), IL'sGOULT bonds
August 24, 2023 - Moody's InvestorsService has assigned aAa2 rating to Cook County Community ConsolidatedSchool District 15 (Palatine), IL's General Obligation School Bonds, Series 2023A and General Obligation School Bonds (Alternate Revenue Source), Series 2023B with expected par amounts of $41 million and
$34.5 million, respectively. Concurrently, Moody's has affirmed the district's Aa2 issuer rating and the Aa2 rating on outstanding general obligation unlimited tax (GOULT) and general obligation limited tax (GOLT) debt. Following the sale, the district will have just over $156 million in general obligation debt outstanding.Rating_Action-Moodys-assigns-Aa2-to-Cook-24Aug2023-PR_908268004.pdf 141.23 KB (Last Modified on October 24, 2023)
2023.06
2022.12
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Press Release: Tax-Exempt Palatine School District 15 Bonds Available to Community
Investor Presentation: Recording and Presentation
Preliminary Official Statement, dated December 29, 2022
Rating Reports
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Moody's Investors Service - Credit Opinion - CCSD15 - December 27, 2022
Credit Opinion-Cook-County-CCSD-15-Palatine-I-27Dec2022.pdf 1.2 MB (Last Modified on December 28, 2022) -
Moody's Rating Action - Aa2 to CCSD15 GOULT bonds - December 23, 2022
Rating Action-Moodys-assigns-Aa2-to-Cook-Cou-23Dec2022.pdf 72.23 KB (Last Modified on December 28, 2022)