Elgin School District U-46 officials will consider issuing $20 million in bonds to fund ongoing capital repairs over the next four to five years.

Jeff King, chief operating officer, addressed the School Board Monday night, detailing the proposal to issue working cash bonds that will fund roof projects, parking lot paving, lighting work and other improvements that are considered “large capital projects.”

“Basically, all of our projects you see that cost $250,000 or more,” King said.

In the past, the district has issued life safety bonds for such work, but not all the necessary improvements qualify under life safety guidelines, he said. Earlier this year, the district issued such bonds, which are still being used for future projects.

“There are many restrictions on how that money can be spent,” King said, explaining elevator work and air conditioning repairs — among other planned projects — are not eligible under life safety rules.

If the School Board votes to issue the bonds at its next meeting on Jan. 9, King will present a capital plan at least once a year on how to spend the $20 million, plus about another $10 million still left over in life safety funds.

Board member Traci O’Neal Ellis asked if the projects are “must-haves,” and if the district could get by with a less-expensive plan.

“These are things that need to be done,” King said, adding if only a $10 million bond sale was proposed, officials would be back in front of the board in two years, asking for more.

Officials also noted low interest rates, and the fact that if repairs are further delayed, they’ll cost more to fix.

“We have to at the very least maintain the value of our buildings,” said board member Joyce Fountain.

King said in the past the district has delayed a cycle of regular repairs, resulting in discovering immediate repairs were needed to open a building for the school year, which then had to be paid for with operating funds.

“This (bond) sale is really part of a long term plan to maintain your buildings,” he said. “When you have in excess of 50 buildings, if you don’t take care of them, they will of course deteriorate and become unusable.”

Financial representative Linda Bobert of R.W. Baird noted the bond sale will not increase the burden on taxpayers.

“It’s not going to cause anybody’s taxes to go up,” she said. “Instead, it stretches debt out a little further.”