Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Village reviews $14.5 million financing plan as debt levy would rise about $372K
Summary
At a special board workshop, municipal adviser Greg Johnson presented a preliminary financing plan that would finance roughly $14.5 million in 2024–25 capital projects mainly with general obligation debt, raising the debt service levy by about $372,000 next year and taking the village to roughly 46% of its GO debt limit.
Greg Johnson, Eller senior municipal adviser, told the Special Board of Trustees in a budget workshop presentation that the draft financing plan for 2024–25 would finance about $14.5 million in capital projects primarily with general obligation debt and estimated roughly $19.3 million in principal and interest over a 20-year term for the proposed notes. "All projects in this version of the plan are proposed to be financed with general obligation debt," Johnson said, and added the debt service levy would increase by about $372,000 from 2024 to 2025 and by approximately $376,000 from 2025 to 2026.
Johnson said the village would reach roughly…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
