Lake Zurich School District 95 voters approve $77.6 million bond issue
Lake Zurich School District 95 voters signaled their approval of a $77.6 million bond issue Tuesday, with approximately 66 percent of the voters approving the plan.
The bond referendum which will replace the 2000 bond referendum.
Plans call for proceeds from the bond issue to be used to replace bonds issued 2000, build a new May Whitney Elementary School, provide air conditioning for five schools and add various learning facilities to some of the schools.
"This vote shows us that the community trusts us to do what is right for their kids and to invest in the schools wisely for the next generation," District 95 Superintendent Kaine Osburn told the Daily Herald.
According to a Daily Herald news article, the bond issue, which is one of the most expensive approved in the district in several years, will decrease annual taxes about $14 for every $100,000 of property value.
The district estimates the new May Whitney Elementary will have a price tag of about $42.3 million, according to the Daily Herald.