The Village's 2018 budget plans include a bond issue to be used to cover the costs associated with the construction of Storm Water Control Infrastructure Improvements. The estimated $9.9 million bond issue will be spent down over the next few years as design processes, bids, and construction is completed.  The bond proceeds and all project costs will be accounted for through the Village's Storm Water Control Fund.  The Village's storm water utility fee revenues will be used to pay the annual principal and interest on these bonds.   

The Village's financial consultant, Kevin McCanna of Speer Financial, will be at the August 20, 2018 Board meeting to report on the bond sale and to answer any questions that may arise.

RECOMMENDATION

It is recommended that the Village Board approve the competitive sale providing for the issuance of the General Obligation Bonds, Series 2018.