![]() “I don’t foresee any problems,” Getty said.īut it will take some time to come to a complete reckoning of interest allocation and other details, since the TTO pools funds from school districts to invest. Getty said the TTO would liquidate part of its portfolio of short-term financial instruments to send LTHS its money and said the high school should get the bulk of the money it is due very soon. “It will be nice to put this chapter behind us,” said Thiessen, who was the driving force behind the lawsuit, which reportedly cost the TTO more than $4 million in legal fees. Other school districts in Lyons Township must still use the TTO to invest its money and perform business functions, such as paying bills and cutting checks.Īt a special meeting of the TTO board on June 28, TTO board President Mike Thiessen said he expected the LTHS withdrawal to go smoothly. Under legislation passed by the Illinois General Assembly a few years ago, LTHS was permitted to withdraw from the TTO after the lawsuit was resolved. The TTO invests money and handles basic financial matters for all school districts in Lyons Township. While Esrig ruled that the TTO could debit $764,789.33 from LTHS’ account for underpayment of its assessments from the TTO since 2014, he rejected the TTO’s major claim that LTHS owed it approximately $6 million for underpayments from 2000 through 2012. ![]()
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