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Oak Park council authorizes up to $44 million in bonds for community center project
Summary
After presentations on amortization, arbitrage and rating steps, the Oak Park City Council on March 17 unanimously adopted a bond‑authorizing resolution permitting issuance of bonds up to $44 million to fund the planned community center; the resolution delegates issuance authority and sets parameters for sale.
The Oak Park City Council on March 17 voted to adopt a bond‑authorizing resolution that allows the city to issue bonds of up to $44,000,000 to finance the planned community center project.
Eric McLaughlin, bond counsel with Dickinson Wright, told the council the resolution implements voter authorization and permits bonds to be sold in one or more series to match the project's expenditure timeline. The resolution pledges the city's unlimited‑tax…
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