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Olympia Fields board abates 2025 levy for multiple legacy bond series
Summary
Trustees unanimously approved five ordinances and one resolution to notify the county that the Village will not use the 2025 tax levy to pay several legacy general obligation bond series and approved the FY2026 Obligation Retirement Resolution tied to Phase 1 repaving.
The Village of Olympia Fields Board of Trustees approved a consent agenda item that abates the 2025 tax levy for multiple general obligation bond series and adopted an obligation retirement resolution for the FY2026 road program.
Finance Director Lisa Fifer-Smith explained the ordinances and resolution direct the County not to use the 2025 tax levy to pay the listed bond series (Series 2008; Series 2011A; Series 2012A; Series 2014B; Series 2021B) and that these bonds were issued under a previous administration. Trustees approved the consent agenda on a 6–0 vote. The resolution includes Section Number 13-000-31-00-GB related to General Obligation Alternate Revenue Bonds Series 2012A for Phase 1 of the road repaving program.
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