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Lemont-Bromberek district back to short-term borrowing to pay bills

By Ginger Reilly

Coming off a rejection by voters of a $20 million bond referendum earlier this month and continuing to struggle financially, the Lemont-Bromberek Combined School District 113A will go back to the short-term borrowing strategy it’s been using to pay the bills.

The school board voted this week to have its financial advisor try and procure additional tax anticipation warrants for the district.

The school district will need $6.1 million to pay expenses due in July, and will need additional money this coming winter, said Donald Weber, senior vice president of PMA Financial Network, which is a financial advisor for the district. The district will not be able to borrow all the money that it needs at the same time, Weber said.

via Lemont-Bromberek district back to short-term borrowing to pay bills — Lemont news, photos and events — TribLocal.com.