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Board debates whether to use iFiber proceeds to shore up insurance trust or fund county projects
Summary
With about $9.1 million from the sale of iFiber and $3.2 million already set aside for early bond retirement, board members debated putting much of the proceeds into the county insurance trust (actuarial recommendation ~ $15M) versus saving some for tangible county projects such as a health-department expansion; members expressed preference for avoiding new bond issuances and urged a prompt decision.
LaSalle County board members discussed options for deploying roughly $9.1 million in proceeds from the iFiber sale on April 20, weighing a proposal from the insurance trust’s actuarial analysis to deposit up to $15 million into the trust against alternate uses such as paying down bonds early or funding tangible county projects.
Finance speakers…
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