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La Grange Park holds public hearing on up to $5 million sewer bonds for central-area sewer separation project
Summary
The Village Board held a public hearing on a proposed issuance of up to $5 million in alternate-revenue bonds to help fund a roughly $13.2 million central-area sewer separation project, with officials saying the debt is structured to avoid raising sewer fees at this time.
The Village of La Grange Park Board of Trustees convened a public hearing on a proposal to issue up to $5,000,000 in bonds to fund a central-area sewer separation project intended to reduce flooding in the village.
Finance Director Larry Noller told trustees the total project is estimated at approximately $13,200,000 and that the village expects to fund part of it through a partnership with the Metropolitan Water Reclamation District of Greater Chicago (MWRD) and other grants and reserves. "We are intending to issue up to $5,000,000 for the project, and those bonds are...going to be alternate revenue bonds, which means…
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