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Council authorizes up to $5 million in general obligation bonds
Summary
The council unanimously approved Ordinance No. 3-2-26 to issue not-to-exceed $5,000,000 in general obligation bonds (series 2026) to support city financing needs.
The Burbank City Council on Feb. 10 approved Ordinance No. 3-2-26 authorizing the issuance of not-to-exceed $5,000,000 in general obligation bonds, series 2026. Ald. Claude Haerr moved the ordinance and Ald. Sheri Gustafson seconded; a roll call indicated 7 Ayes and 0 Nays and the motion passed.
The ordinance language in the minutes describes the measure as “An ordinance providing for the issuance of not to exceed $5,000,000, general obligation bonds, series 2026, of the City of Burbank, Cook County, Illinois and for the levy of a direct annual tax sufficient to pay the principal and interest on said bonds.” The minutes do not include further details on intended projects, bond terms, or anticipated tax impact.
Council members did not record amendments or public comment in the minutes. The ordinance establishes authorization to issue bonds; subsequent steps ordinarily include bond sale details and debt-service planning reported in future materials.
