There are a number of different forms of bonds/debt that a school district may issue to meet its financing needs. Types of Obligations that a school district may issue include general obligation bonds (i.e. building bonds, life safety bonds or funding bonds), alternate revenue source bonds, debt certificates/installment contracts, leases, tax anticipation warrants, tax anticipation notes and revenue anticipation notes. Refunding bonds have been issued more frequently in recent years due to the lower interest rate environment.
Table of Financing Options Using Bonds For Illinois School Districts