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Schiller Park adopts ordinance allowing up to $10 million promissory note for new public works building
Summary
The board adopted an ordinance authorizing issuance of a not-to-exceed $10,000,000 general promissory note to finance construction and equipping of a public works building; Village Manager Brett Kryska provided additional details during the discussion.
Trustees adopted an ordinance providing for issuance of a not-to-exceed $10,000,000 general promissory note for the purpose of building and equipping a public works building and improving the site.
Trustee Robert Lima moved to adopt the ordinance, Trustee Russell Klug seconded it, and Trustee Lima thanked village staff for their work in preparing the loan. Village Manager Brett Kryska provided additional details regarding the loan during the item. Clerk Rosa Jos recorded a unanimous roll-call vote approving the ordinance.
The minutes record the ordinance title and trustees' vote but do not specify the purchaser of the note, interest rate, repayment schedule, or exact project budget breakdown; those details would be contained in the note sale documents or future administrative reports.
