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Lake Forest approves debt-cap amendment and authorizes bonds for public safety facility; sets tax-levy hearing date
Summary
The Lake Forest City Council on Nov. 3 approved a debt-cap ordinance amendment and authorized parameters for up to $20,350,000 in general-obligation bonds to finance a public safety facility; council also set a Dec. 1, 2025 truth-in-taxation hearing date if required.
The Lake Forest City Council on Nov. 3 approved several related finance measures: a final-reading amendment to the city’s self-limiting (debt-cap) ordinance, a parameters bond ordinance authorizing up to $20,350,000 in general obligation bonds for renovation of a building to use as a public safety facility, and a nonbinding estimate of property-tax revenue for the 2025 levy process with a Dec. 1, 2025 public hearing date if required under the Truth in Taxation statute.
Debt-cap amendment: Finance Director Katie Skibbe explained the amendment…
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