01/29/2026
Based on publicly available district financial information, USD 469 currently has the following bonds outstanding:
• Series 2012 Bond
Outstanding principal: $465,000
Remaining interest: $13,950
Total remaining payoff: $478,950
Scheduled payoff: September 2026
• Series 2016 Bond
Outstanding principal: $2,555,000
Remaining interest: $102,200
Total remaining payoff: $2,657,200
Scheduled payoff: September 2026
• Series 2019 Bond
Outstanding principal: $73,850,000
Remaining interest: $16,221,153
Total remaining payoff: $90,071,153
Scheduled payoff: 2038
Because the Series 2019 bond extends through 2038, any new bond issued before that date would be structured around the existing debt. This timing helps explain why the proposed new bond includes a period of interest-only payments before principal repayment begins.
Interest-only periods are not a legal requirement; they are a common structuring choice used to issue new debt while keeping the debt service mill levy flat when there are existing bonds already on the books.
In addition to these existing obligations, voters are now being asked to consider a new $30 million bond, with an estimated $26 million in additional interest over time.
Looking at existing and proposed debt together helps residents understand the full financial picture, including how long obligations extend into the future and how new borrowing layers on top of existing commitments.