State law allows Chester N HSD 122 to borrow a total of $763,028.
The state limits how much school districts can borrow, capping their debt at a percentage of the district's property wealth, as determined by county and township assessors.
Community unit school districts are able to borrow up to 13.8 percent of their total property value, or Equalized Assessed Value (EAV). Elementary school districts are able to borrow up to 6.9 percent of their EAV.
However, school districts exceeding these debt caps are not punished or sanctioned, as the state has no enforcement mechanism in place.
In 2015, Chester N. 122, a high school school district, had an EAV of $11,058,371, according to ISBE.
The following table ranks debt held by area school districts.
School district
Maximum debt allowed
Current debt
Percentage used
Belle Valley SD 119
$6,149,189
$40,479,579
658.3%
East St Louis SD 189
$13,442,148
$36,714,119
273.1%
Mascoutah CUD 19
$32,958,886
$78,437,097
238%
Cahokia CUSD 187
$9,765,885
$15,022,214
153.8%
Lebanon CUSD 9
$10,334,972
$12,113,648
117.2%
East Alton SD 13
$4,015,615
$4,335,507
108%
Triad CUSD 2
$61,534,776
$59,292,302
96.4%
O Fallon CCSD 90
$42,285,121
$37,705,624
89.2%
Waterloo CUSD 5
$56,663,399
$49,616,142
87.6%
Shiloh Village SD 85
$5,815,494
$4,630,000
79.6%
Harmony Emge SD 175
$8,677,889
$6,855,440
79%
Dupo CUSD 196
$8,386,268
$6,200,000
73.9%
Central SD 104
$10,637,919
$7,830,000
73.6%
O Fallon Twp HSD 203
$60,760,965
$44,670,000
73.5%
Signal Hill SD 181
$2,569,714
$1,848,700
71.9%
Edwardsville CUSD 7
$173,840,430
$120,090,886
69.1%
Alton CUSD 11
$93,807,615
$64,092,913
68.3%
Brooklyn UD 188
$615,098
$418,632
68.1%
Bethalto CUSD 8
$27,193,492
$17,158,674
63.1%
Belleville Twp HSD 201
$105,271,868
$62,055,922
58.9%
Millstadt CCSD 160
$12,579,057
$6,937,000
55.1%
Grant CCSD 110
$7,200,073
$3,941,000
54.7%
Highland CUSD 5
$50,283,396
$25,143,000
50%
Columbia CUSD 4
$41,721,696
$20,785,000
49.8%
High Mount SD 116
$3,077,009
$1,438,924
46.8%
Madison CUSD 12
$3,447,109
$1,496,799
43.4%
Wolf Branch SD 113
$12,266,764
$5,215,000
42.5%
Jersey CUSD 100
$42,016,590
$16,480,924
39.2%
Freeburg CHSD 77
$17,860,903
$6,635,000
37.1%
Roxana CUSD 1
$64,966,962
$23,298,453
35.9%
Granite City CUSD 9
$67,012,797
$22,248,829
33.2%
Belleville SD 118
$22,617,596
$7,345,882
32.5%
East Alton-Wood River CHSD 14
$11,378,357
$3,167,727
27.8%
New Athens CUSD 60
$8,608,794
$2,350,000
27.3%
Freeburg CCSD 70
$10,582,282
$2,145,000
20.3%
Pontiac-W Holliday SD 105
$16,515,910
$2,910,801
17.6%
Whiteside SD 115
$15,721,752
$2,459,000
15.6%
Collinsville CUSD 10
$95,602,508
$13,340,318
14%
Marissa CUSD 40
$4,883,172
$557,957
11.4%
Smithton CCSD 130
$6,307,746
$705,000
11.2%
Valmeyer CUSD 3
$7,562,078
$749,413
9.9%
Venice CUSD 3
$1,642,476
$0
0%
Chester N HSD 122
$763,028
$0
0%
St Libory Cons SD 30
$855,991
$0
0%
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