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Peoria CFD boards approve Vistancia North bond sale, authorize up to $6 million and $2.65 levy
Summary
PeoriaVistancia North Community Facilities District approved a resolution authorizing a not-to-exceed $6,000,000 bond issuance and adopted a $2.65-per-$100 levy; officials said proceeds are expected to be about $4.6 million and Moody's assigned an Aa2 rating. The vote was unanimous, and no public speakers addressed the hearing.
The Vistancia North Community Facilities District board on Thursday approved a resolution authorizing the sale and issuance of general obligation bonds with a not-to-exceed amount of $6,000,000 and adopted a targeted levy of $2.65 per $100 of net limited assessed value to support the debt.
Sean Kendall, the city's chief financial officer and director of finance and budget, told the board the district formed in 2020 to finance water and wastewater infrastructure will use bond proceeds to reimburse developer-built projects and to fund additional work, including the JOMAX water treatment facility expansion. "The bonds themselves'we have a not to exceed amount of $6,000,000," Kendall said, adding officials expect actual proceeds to be "right around $4,600,000." He also…
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