General Obligation Bond FAQs
With upcoming General Obligation Bond election in November, I’m going to utilize the newspaper space over the next few weeks to answer questions and provide information to frequently asked questions. The first question:
What is a General Obligation (GO) Bond?
A General Obligation Bond is backed by the state or local government and is issued to a government municipality to replace buildings such as schools. A General Obligation Bond must be approved by a majority of the votes within the school district before a district may participate in the program. The General Obligation Bond allows the district to borrow at the lowest interest rate and save taxpayers approximately $2,000,000 over the course of the bond. Because of the State School Bond Guarantee Program, with the approval of the GO Bond, the District can capitalize on the State’s “AAA” rating to obtain the lowest interest rates and make the most of precious taxpayer dollars
Ben Dalton
Superintendent Kane School District