308 Bond Facts · Vote NO · November 3, 2026
$317,000,000
new principal — plus interest — on top of debt that is not paid off.
$317 million is new debt.
SD 308 says you can borrow it and still cut taxes. Read the fine print.
- They say the debt-service rate goes down.
- Your operating levy is not in that sentence.
- The 2006 bond is not paid off.
On November 3, 2026, Oswego CUSD 308 is asking voters to authorize $317 million in new bonds. The district’s website says facility work can happen “while still reducing the debt service tax rate,” and that a $335,000 home would see about $100 less in 2028 and $56 more off in 2036 — on the debt-service line only. That is not the same thing as your tax bill going down. The last voter-approved bond, from 2006, is still being paid.
Rate ≠ bill
The “cut” is one line on a property-tax bill. The operating levy is separate and still grows with new property and the tax cap.
The tax-cut claim →The last bond is not done
2006 authorized $450 million. As of 2025 the district still reported about $185.5 million of principal plus roughly $89 million of interest remaining.
Old debt →The ballot is broader than roofs
HVAC and roofs are real. The legal question also covers science labs, cafeteria/gym expansions, and “alter, repair and equip.” After a yes, the board — not voters — ranks the work.
What the ballot authorizes →“I’m not voting $317 million to a district that can staff an equity cabinet and still can’t maintain the buildings.”
Facts in one screen
- Ballot date
- November 3, 2026
- Ask
- $317,000,000 new bonds
- Buildings
- 22
- Prior voter bond
- 2006, $450 million
- Remaining old principal
- ~$185.5 million (district, Aug 2025)
- 2025 operating levy
- ~$141.5 million (not the bond)
- District “savings” example
- ~$100 in 2028 on a $300k–$335k house, debt-service line only
- Board vote to place it
- 6–1
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Early voting and Election Day: November 3, 2026. Confirm your polling place at elections.il.gov or your county clerk.