According to a press release from the Champaign Community Unit School District four, they were issued $86.7 million in school building bonds Feb. 4.

The bonds will be repaid by sale tax dollars collected throughout Champaign County. They were sold by Stifel, Nicolaus & Company, Incorporated, and were the first bonds sold in Champaign County following the passage of the County School Facility Occupation Tax in April.

The release stated that several district administrators participated in the sales process including Superintendent Arthur Culver, Board President Dave Tomlinson and Chief Financial Officer Gene Logas.

“The district was extremely pleased with the sale of the Bonds,” Culver said.

He said planned projects include renovation of existing schools including Westview, Bottenfield, Kenwood and Robeson.

Tomlinson said part of the tax money will be used to repay bonded indebtedness on prior construction projects, reducing property taxes in the district.

Culver said the proceeds will also be used to build two new schools.

"We will replace the existing Booker T. Washington School with a new magnet school focusing on science, technology, engineering and math," Culver said.

He added that they will also construct a new school in Savoy adjacent to Village Park.