C-M Committee of Whole: District Considers Sale of Life Safety Bonds to Fund $9 Million in Improvements

Crete-Monee School Board Meeting | Feb. 10, 2026

Article Summary: The School Board discussed selling Life Safety Bonds to proactively address facility maintenance at Monee Elementary and Crete-Monee High School without increasing the current debt service levy.
Life Safety Bond Proposal Key Points:

• Funding Strategy: The district proposes selling bonds to maintain the current bond and interest levy of approximately $11 million to $12 million annually, rather than letting it drop.

• Project Scope: Funds would address aging infrastructure at Monee Elementary and the High School, both of which are approaching 20 years of age.

• Potential Yield: Extending the debt service through 2031 could generate approximately $9 million in proceeds for repairs.

• Proactive Approach: The move aims to address “end of life” equipment issues before the next mandatory 10-year survey in 2028.

The Crete-Monee School Board on Tuesday, February 10, 2026, discussed a financial strategy to generate approximately $9 million for facility improvements by selling Life Safety Bonds.

Jason Okrasinski presented the proposal, explaining that the district has the opportunity to address capital needs at Monee Elementary and Crete-Monee High School. While the district recently completed life safety surveys and repairs for six of its eight buildings, these two schools were not included in that cycle.

Okrasinski explained that while Monee Elementary and the High School are the district’s newest buildings, they are nearly 20 years old and are beginning to experience equipment fatigue.

“We are experiencing some end-of-life issues with some equipment at those buildings,” Okrasinski said.

The proposal involves selling bonds to fill a gap in the district’s debt service schedule. Currently, the bond and interest levy is just under $12 million per year. That payment is scheduled to drop to $11 million in 2026 and $10 million thereafter. By selling new bonds and extending the debt structure through 2031, the district can keep the levy level stable while generating capital for repairs.

“We want to address these issues proactively so there’s not a large sticker shock down the road,” Okrasinski told the board.

Board members reacted positively to the plan. “I think life safety regulations have evolved since the last time,” President Maurice Brown noted, referencing new requirements for air quality and roofing.

Member William Sawallisch agreed with the strategy of inspecting the buildings early rather than waiting for the mandatory 2028 survey. “It may be a great opportunity… at least if someone walks through a week or two before… you can see some of the big tickets,” Sawallisch said.

The process will require the district to identify specific life safety items, amend the current life safety survey, and obtain approval from the Regional Office of Education and the Illinois State Board of Education. A public hearing will also be required.