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Riverside trustees move ahead with plan to put permanent street levy question before voters
Summary
Village officials recommended placing a November referendum asking whether to shift street funding from order-by-order bond issues to a permanent annual street-and-bridge levy; no formal vote was taken and staff were directed to continue preparing ballot language and outreach materials for final action this summer.
Village of Riverside officials on Tuesday discussed placing a referendum before voters this November that would convert the village’s recurring practice of issuing 10-year bonds for street work into a permanent, annual street-and-bridge tax levy intended to stabilize funding and reduce bond issuance costs. No formal vote was taken; the board directed staff to continue preparing the draft question and related informational materials and to return with final ordinance or resolution language by early August.
The proposal follows two past voter approvals to issue bonds for road projects, in 2004 and 2014. Manager Francis noted the village’s portion of a resident’s property tax bill is about 15.3% and said the referendum is designed to be “property tax neutral.” “With the way in which this referendum would be set up, it would be property tax…
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