Village Issues New Bonds to Refinance Existing Road and Utility Bonds
On July 27, 2021, the Village Board approved the issuance of new bonds to refund (refinance) existing road referendum and utility system bonds. The reason for the refunding was to take advantage of the low interest rate environment. The refunding of the road referendum bonds will result in a lower debt service property tax levy, benefiting Village property owners. The savings obtained from refunding the utility system bonds (paid for by water and sewer user charges) will allow the Village to enhance capital investment in the water and sewer utility systems.