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Maywood board approves $2.5 million warrant list, discusses 2015 bond technical noncompliance and large vendor payments
Summary
The board approved Warrant List No. 200495 totaling $2,497,812.22, reviewed open invoices of $528,214.29, debated a recommended letter of credit to address alleged technical noncompliance on 2015 refunding bonds and approved omnibus vendor payments including large health-insurance and water bills.
At its July 14 meeting the Maywood Board of Trustees approved Warrant List No. 200495 for $2,497,812.22 and reviewed an Open Invoices Report totaling $528,214.29.
Village Attorney Michael Jurusik told trustees the Village may be in technical noncompliance relative to the General Obligation, Corporate Purpose Refunding Bonds, Series 2015, and recommended posting a letter of credit to satisfy the Tax Escrow Agreement. Mayor Edwenna Perkins proposed tabling the item to gather additional information; a motion to…
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