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District to borrow $2.5 million Round Lake area schools will repay money later with tax revenue.

Publication: Daily Herald (Arlington Heights, IL)
Publication Date: 21-MAY-04 		Format: Online
Delivery: Immediate Online Access
Full Article Title: District to borrow $2.5 million Round Lake area schools will repay money later with tax revenue.(News)

Article Excerpt
Byline: Jason King Daily Herald Staff Writer

The Round Lake area school board on Thursday approved borrowing $2.5 million against future tax revenue in order to avoid cash shortages in the coming budget year.

Chief Finance Officer Walter Korpan said the funds are needed to balance the preliminary budget for the 2004-2005 school year.

"This $2.5...

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