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Park board bond package would be paid from park district taxes; county advisers say issuance should be net tax-neutral
Summary
The committee recommended favorably the park district’s request to issue up to $6.6 million in park district bonds, and county advisers said the new debt would replace retiring obligations so the net tax impact should be zero or slightly lower for taxpayers.
The Budget Administration Committee voted to send favorably a request related to proposed park district bonds that would fund multiple park projects and are structured as debt of the park district rather than the county.
Catherine Fanello, counsel for the park district, described recent park board meetings and said the park board adopted a resolution after a public hearing on May 20…
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