Byline: Lee Filas Daily Herald Staff Writer

Fox Lake Elementary School District 114's superintendent says the district needs to generate cash to keep operating in the black and a short-term loan is the perfect way to do it.

Superintendent John Donnellan said if voters approve of the idea in a March 21 referendum, the district will sell bonds totaling $3.75 million to bolster the district's working cash fund.

He said the cost to homeowners would be 25 cents per $100 of equalized assessed home valuation. The owner of a $250,000 home would see the tax bill increase by roughly $208, or $17 per month.

Donnellan said by selling bonds to cover the shortfall in the ...