If the true purpose for the Working Cash Fund bond sale is for projects (and not for “working cash purposes”), as twisted as that interpretation may be, then the amount this Board can legally and honestly sell must reasonably conform to the amount that is needed. That amount is currently $2,255,000. If the Board desires to sell the Series 2018 non-referendum bond for additional projects, hold another BINA hearing to comply with all of the procedural requirements for issuing debt. If you ignore this recommendation, you run the risk of knowingly, willingly and intentionally selling bonds for no stated purpose, which may be construed in Wheaton, Elgin, or Springfield to be fraudulent.
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