Rend Lake Board Approves $1.9-million in BondsThe Rend Lake College Board approved a resolution at a special meeting Saturday to issue $1,905,000 in general obligation bonds. The bonds will allow the district to increase its working cash fund.
College officials say no tax levy increase is associated with the bond issuance. The college needs the increase working cash reserves because of delayed payments from the state. In addition, the college will use the revenue to fund future growth opportunities identified by the college board.
The board also voted to retain the services of Chapman and Cutler LLP as bond counsel and First Midstate, Incorporated as bond underwriter for the issuance.
See other LocalNews news:Large Turnout at Electronics Recycling Event
Field Grade School Rallies for Cancer-Stricken 4th Grader
Marion County Sheriff's Department Taking Part in Drug 'Take-Back' Program
Missouri Trucker Killed in I-70 Accident Near St. Elmo
Police Beat for Wednesday, April 23rd, 2014