The following information was compiled by the District's Municipal Adviser, PMA.
The estimated annual financial impact to the owner of a $500,000 fair market value home is $282.87. For reference, the median value of a home in District 86 is $461,200.
The bonds would be issued in stages making the term of repayment 21 years, or a total of $5,940.27 over the life of the bonds for the owner of a $500,000 fair market value home.
With regard to the bond sale, it is expected it would be executed as follows, 50% of bonds sold in July 2019, 25% of bonds sold in March 2020 and the final 25% to be sold in March 2021. Of course, the District will continue to monitor interest rates with the municipal adviser. In the event that the interest rate environment changes, the municipal adviser may counsel the Board to adjust the plan to act in the best interest of D86 taxpayers.