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Clarks adopts Ordinance 760 to issue up to $80,000 in water bonds
Summary
The Clarks Village Board of Trustees adopted Ordinance 760 authorizing General Obligation Water Bonds, Series 2026, in an amount not to exceed $80,000 to fund water system improvements; the ordinance was read by Chair Donn Glynn and adopted 4-0 after suspending the three-reading rule.
The Clarks Village Board of Trustees on March 11 adopted Ordinance 760, authorizing the issuance of general obligation water bonds in a principal amount not to exceed $80,000 to pay the costs of improvements to the village water system. Chair Donn Glynn read the ordinance by title after the board heard final details from Will Reetz of Northland.
The board voted to suspend the statutory rule requiring an ordinance to be read on three separate days; the motion to suspend the rule was made by Trustee James Parsons and seconded by Trustee Dyrek Zoucha and passed on a 4-0 roll-call vote with one trustee absent. Trustee Chris Langley moved for final passage; Trustee Parsons seconded, and the ordinance was adopted on a 4-0 roll-call vote.
The ordinance authorizes the form, sale, delivery and post-issuance tax compliance policies for the bonds. The board did not specify bond interest rate or purchaser terms at the meeting; the ordinance authorizes officers to set final terms within prescribed parameters. The meeting record identifies Will Reetz of Northland as the representative who finalized the ordinance language prior to the board reading and voting.
The board took the action as part of routine business at the Village Hall meeting; no public comment was recorded on the ordinance during the session. The board approved other routine consent items earlier in the meeting, including claims and fund transfers.
