Park Ridge-Niles District 64 will hold a special board meeting Monday, Aug. 24, to vote on accepting a no-interest loan from Cook County, a move aimed at keeping the district solvent while property tax bills remain delayed by roughly two months.

The meeting agenda lists one primary action item: a resolution authorizing the issuance of Educational Purposes Tax Anticipation Warrants to formalize the loan under Cook County's Local Taxing District Loan Program. Chief School Business Official Brian Harlan will present the resolution.

District 64 applied for $9.4 million through the program, covering two months of operating fund expenditures, Harlan told the board at its Aug. 13 meeting.

"We did apply for two months of our operating fund expenditures," Harlan said at the Aug. 13 meeting, as reported by the Journal & Topics. "It was $9.4 million. We applied for that, we don't know if we're getting it yet."

The loan comes from Cook County's $300 million Property Tax Bridge Fund, which County Board President Toni Preckwinkle announced as a lifeline for local governments hit by the billing delay. This is the third time the county has offered the program in response to property tax cycle disruptions. The application window closes Aug. 24, the same day as District 64's vote.

The cash-flow pressure is real. District 64 lost approximately $1 million in investment income during the 2025-2026 school year because of delayed property tax distributions. Director of Business Services Phoebe Wood told the board Aug. 13 that the district is "being very conservative with our investment income" in its tentative budget. Last year, delays got severe enough that the district considered issuing tax anticipation warrants on its own, a costlier option that carries interest.

The county's bridge fund carries zero interest, making it a cheaper alternative to commercial short-term borrowing. To qualify, a district must rely on property taxes for at least 50% of total governmental revenues and be located wholly within suburban Cook County.

District 64's tentative 2026-2027 budget shows $111.3 million in revenues against $151.7 million in expenses. The district has characterized the roughly $40 million gap as a paper deficit, driven in part by the timing of delayed tax receipts rather than a structural shortfall. But it underscores why the no-interest loan matters for day-to-day operations.

Monday's special meeting begins at 5 p.m. at Jefferson School, Hendee Rooms, 8200 W. Greendale Ave., Niles. Public comments are welcome, with each speaker given three minutes. The agenda also includes a tour of Lincoln School and a consent-agenda item approving a copier lease for Roosevelt School.

The next regular board meeting is Sept. 17 at 7 p.m. at Jefferson School, where the board is expected to approve the final 2026-2027 budget.