Notice of Public Hearing Concerning the Intent of the Board of Directors of School Directors of Consolidated School District No. 328, County of Peoria and State of Illinois to Sell $2,750,000 Building Bonds

Public Notice is Hereby Given that School Directors of Consolidated School District No. 328, County of Peoria and State of Illinois (the “District”), will hold a public hearing on the 21st day of October, 2025, at 7:00 o’clock P.M.  The hearing will be held in the Hollis School Library, 5613 West Tuscarora Road, Peoria, Illinois.  The purpose of the hearing will be to receive public comments on the proposal to sell bonds (the “Bonds”) in the amount of $2,750,000 for the purpose of altering, repairing, equipping and improving the site of the Hollis grade school building to include increased security, accessibility and educational spaces.

The Bonds are estimated to be outstanding for 20 years.  The total debt service to be paid on the Bonds, including principal, interest and costs of issuing the Bonds, is estimated to be $4,730,000.  The average annual property tax needed to pay the principal of and interest on the Bonds extendable against property containing a single-family residence and having a fair market value of $100,000 (without regard to any property tax exemptions) is estimated to be $103.

The actual number of years during which the Bonds will be outstanding, the actual total debt service to be paid on the Bonds and the actual average annual property tax to pay the principal of and interest on the Bonds extendable against property containing a single family residence and having a fair market value of $100,000 (without regard to any property tax exemptions) are subject to change based on many factors, including market conditions at the time the Bonds are sold. Any differences between the information set forth herein and the actual results at the time the Bonds are sold shall not invalidate the hearing or the results of the referendum for the Bonds.

By order of the President of the Board of Directors of School Directors of Consolidated School District No. 328, County of Peoria and State of Illinois.

Dated the 2nd day of October, 2025.

Tim Leach
Clerk, Board of Directors,
School Directors of Consolidated School District No. 328,
County of Peoria and State of Illinois