Get email alerts on the Tid 7 topic
No spam. Unsubscribe anytime.
Stateline 94 TID pays off MRO, may close early with surplus
Summary
Village finance staff reported TID No. 7 (State Line 94) paid off its MRO in 2025 and ended the year with a fund balance of about $351,008; cash-flow projections indicate the district could close early and leave funds to distribute.
Cathy, the village finance director, presented the TID No. 7 annual report and said the village borrowed $9.7 million in 2025 to support the district’s financing needs and paid off the MRO owed to Stateline (principal $9.6 million and interest about $475,000).
"We paid off the MRO to Stateline for 9,600,000 in principal and the interest of 475,000," Cathy said. She reported 2025 tax increment of about $740,000, personal property aid near $172,000 and investment income of $27,000; the TID ended the year with a fund balance of $351,008.37 and outstanding GO debt around $9,000,330.
Cathy said cash-flow schedules suggest TID No. 7 could close a few years early and have surplus funds available for distribution when it does. The board moved to receive and file the annual report; the motion passed unanimously.
AI generated
The text on this page is AI generated. Summaries, highlights, analysis, and video transcripts are all produced from the original source material.
AI can make mistakes, so if you spot one, and we will fix it for everyone.
Note: the source content is unaltered by us. Any content source we link to, be it a video, an audio recording, or a document, is presented exactly as its publisher released it. That publisher is usually a government body, sometimes an individual official or another organisation.
