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Finance advisor outlines plan for up to $3.335 million general-obligation notes; board reviews timing and tax impacts
Summary
Village finance advisor presented a parameters resolution and timetable for selling up to $3,335,000 in general obligation promissory notes to fund 2025 projects, detailed project allocations, amortization periods and projections for the village debt-service levy and GEO capacity; no formal vote on the resolution appears in the transcript.
Village finance advisor Harry presented a presale review on March 18 of a parameters resolution authorizing the sale of general obligation promissory notes not to exceed $3,335,000 to fund village projects in 2025.
Harry outlined a timeline: a rating call with S&P scheduled for the following Monday, distribution of the official statement around April 2, an anticipated bond sale on April 9 and funds available to the village on May 1. He said the official statement distribution is being timed to reflect the outcome of an upcoming referendum so the market receives current financial information.
The advisor described how the proposed issuance would be…
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