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Council Authorizes Sale of Up to $13.75 Million in G.O. Bonds to Cover Litigation Settlements
3785355 · June 2, 2025
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Summary
The council authorized an ordinance to issue not‑to‑exceed $13.75 million in general obligation bonds to pay amounts due related to litigation settlements; the bond ordinance passed in Finance & Personnel committee and will proceed to council action per the normal ordinance schedule.
Alderman Frost: The Finance & Personnel Committee recommended authorization to issue general obligation bonds not to exceed $13,750,000 to pay amounts due related to litigation settlements and to provide for the imposition of taxes and use of sales tax receipts as necessary to repay the…
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