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District staff recommends awarding $1.00 million rollover bonds at 3.07% and moves to adopt abatement for series 2019A
Summary
Staff reported the district received a low bid at a 3.07% net interest cost for its 2025 annual rollover general-obligation limited-tax bonds, recommended awarding the issue at a revised price of $1,002,665, and introduced an abatement ordinance for existing series 2019A alternate-revenue bonds; motions were made but no roll-call votes are recorded in the transcript.
Unidentified Speaker 3, Unidentified Speaker: The district announced results of a competitive sale for its general obligation limited-tax "rollover" bonds and recommended awarding the series 2025 issue to the low bidder. "The low bid was a 3.07% net interest cost bid from Time Bank, Park Ridge, Illinois," Unidentified Speaker 3 said, and recommended awarding the issue at a revised price of $1,002,665 with an anticipated closing on Dec. 18 and a final maturity on Dec. 15, 2026.
The presenter said the…
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