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Board signs underwriting engagement as debate over $4 million Village Hall plan surfaces
Summary
Trustees authorized an engagement letter with Bernardi Securities for bond underwriting despite objections from Trustee Perchinski, who warned a $4 million Village Hall plan would prioritize debt over infrastructure; motion passed 4–1.
The Village of Steger authorized an engagement letter with Bernardi Securities to underwrite bonds for 2026, a step toward financing potential capital projects. Trustee Hanus moved the engagement and the motion passed on a roll call with Trustees Hanus, Stewart, Thurmond and Trotier voting aye and Trustee Perchinski voting no.
Trustee Perchinski said the prospective $4 million bond to finance a Village Hall would place the village 'pretty far into debt' and urged prioritizing infrastructure like water and roads instead of building a new hall. The board did not vote on issuing any bonds at the March 2 meeting — only on hiring an underwriter — and no bond terms, issuance timeline or project appropriation were presented.
Mayor Joyce and other trustees did not elaborate on a firm Village Hall plan during the meeting; legal and financial review steps remain before any bond sale could occur.
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