Bates v. Board of Education

On November 1, 1984, appellant, the board of education of Allendale Community Consolidated School District No. 17 (school district), approved the issuance of $275,000 in “School Fire Prevention and Safety Bonds” in order to pay for safety improvements required to bring the Allendale school building into compliance with the requirements of the “Building Specifications for Health and Safety in Public Schools.” The bonds bore an interest rate of 9.75%, which was within the applicable ceiling provided for in the Bond Authorization Act (Ill. Rev. Stat. 1983, ch. 17, par. 6601 et seq.).

On June 3,…