New Lenox SD 122 Board Approves $8 Million Bond Sale for Tyler School HVAC Overhaul
New Lenox School District 122 Meeting | October 21, 2025
Article Summary: The New Lenox School District 122 Board of Education has unanimously approved the issuance of up to $8 million in School Fire Prevention and Safety Bonds to fund a complete heating, ventilation, and air conditioning (HVAC) system replacement at Arnold J. Tyler Elementary School.
Life Safety Bonds Key Points:
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The bonds will finance the majority of an estimated $8.88 million HVAC renovation project at Tyler School.
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The board held a public hearing on October 21, 2025, where no public or board comments were made regarding the bond sale.
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Proceeds will be used to bring existing facilities up to the state’s building code by altering, reconstructing, and repairing the school.
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The board also approved a parameters resolution, authorizing district officials to sell the bonds when market conditions are favorable.
NEW LENOX, IL – The New Lenox School District 122 Board of Education on Tuesday, October 21, 2025, formally authorized the sale of up to $8 million in School Fire Prevention and Safety Bonds to finance a major infrastructure project at Arnold J. Tyler Elementary School.
The board held a brief public hearing on the matter, during which no testimony was offered from the public or the board. Immediately following the hearing’s adjournment, the board unanimously approved the bond issuance. The proceeds are designated for a comprehensive overhaul of the HVAC system at Tyler School, a project with a total estimated cost of $8.88 million.
The purpose of the bonds, as stated in the public notice, is for “conforming its existing facilities that house students to the building code promulgated by the State Board of Education… by altering and reconstructing said facilities and having equipment purchased and installed therein.”
As part of the consent agenda, the board also approved a “parameters bond resolution.” This gives the administration, in consultation with the district’s financial advisor, Raymond James, the authority to sell the bonds within specific financial limits without needing further board action. According to the project timeline, the district expects to sell the bonds around November 24, 2025, and close the deal by December 11, 2025.
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