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Officials briefed on $91M outstanding debt and potential $250M peak; board approves updated reimbursement resolution
Summary
Financial advisors presented the village's current debt profile (about $91 million outstanding) and a possible financing plan that could reach about $250 million including TIF and water/sewer borrowing; trustees approved a reimbursement resolution to preserve the option to reimburse capital expenditures from future tax-exempt bond proceeds.
PMA Securities advisers briefed trustees July 7 on the village’s current debt, planned bond issuances and a reimbursement resolution to preserve tax-exempt financing options. Key figures: PMA reported the village’s outstanding debt is roughly $91,000,000. Staff and advisers said the village had planned additional borrowings to fund governmental projects and TIF-related work and that, if all projects currently in planning proceeded, the village’s total debt exposure could reach about $250,000,000 over the next several years (including approximately $41,000,000 in near-term planned issuance and…
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