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South Blooming Grove authorizes up to $92.7 million in bonds for water system improvements
Summary
Resolution No. 053 authorizes issuance of bonds not to exceed $92,700,000 to finance water system construction. The motion passed with four ayes recorded; Mayor George Kalaj was absent.
The Village Board approved Resolution No. 053 authorizing the issuance of bonds in a principal amount not to exceed $92,700,000 to finance construction of water system improvements in the village. Trustee Zalmon Rosner moved the resolution and Trustee Asher Guttman seconded; the minutes record four ayes (Deputy Mayor Abraham Weiss, Trustee Asher Guttman, Trustee Yitzchok Feldman and Trustee Zalmon Rosner) with Mayor George Kalaj absent.
The authorization sets a not-to-exceed principal amount for bond financing; the minutes do not provide the exact project-level budget allocation within that envelope or a debt service plan. The Board’s vote allows the Village to proceed with bonding procedures subject to statutory requirements and further administrative steps.
