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Oak Park adopts midyear budget amendment and reports $10 million bond sale for community center work
Summary
Council approved Budget Amendment No. 3, which staff said has no net impact on general fund balance, and city officials reported a $10 million bond sale for predevelopment and demolition on the community center project with a true interest cost of 4.71%.
The Oak Park City Council on Tuesday adopted Budget Amendment No. 3 for fiscal 2024‑25 and heard a report that the city sold $10 million in bonds to finance predevelopment and demolition work on the planned community center.
Finance Director Sandra Crawford told the council that budget amendment number 3 has no net impact on the general fund's overall balance and…
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