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Board adopts resolution expressing intent to reimburse capital expenditures from bond proceeds
Summary
The board adopted a resolution stating the village’s intent to reimburse certain capital expenditures from future obligations so those expenses can be paid from nontaxable bond proceeds; trustees discussed the connection to the five-year financial plan.
The Orland Park Board of Trustees on July 21 adopted a resolution titled “Resolution expressing official intent regarding certain capital expenditures to be reimbursed from proceeds of 1 or more obligations to be issued by the Village of Orland Park, Cook and Will Counties, Illinois.”
Trustee Leafblatt moved adoption of the resolution, which the board approved by roll call. During discussion Trustee Katsenas asked whether the village has continually…
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