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Council approves IEPA loan authorization up to $30 million for water and sewage improvements
Summary
Jacksonville authorized incurring IEPA loans and issuance of waterworks and sewage revenue bonds not to exceed $30 million to fund improvements to the city's waterworks and sewage system.
The Jacksonville City Council approved an ordinance authorizing the city to incur loans from the Illinois Environmental Protection Agency and to issue waterworks and sewage revenue bonds in an aggregate principal amount not to exceed $30,000,000 to fund improvements to the city's water and sewage system.
The ordinance was presented as a second-reading item; Alderman Scott seconded the motion to approve. Following a roll-call vote the measure passed with recorded yes votes from Hannon, Henry, Oldenetl, Reuben DeSellis, Scott, Speed, Watts and Williams.
City staff described the ordinance as enabling IEPA loans and bond issuance to defray the cost of system improvements. The transcript does not include detailed engineering, project-level budget allocations or the proposed schedule for bond issuance; those details will be contained in the loan and bond documents and future staff reports.
