Politics & Government
Trustees Agree to Issue Bonds for Road, Water/Sewer Projects
The bonds total $9.2 million.
Libertyville Trustees voted unanimously Tuesday night to approve the issuance of $9.2 million in revenue bonds for road and water/sewer projects.
Trustees approved issuing $5 million in bonds to finance year two of a multi-year road rehabilitation program, along with $4.2 million in bonds to fund the second year of a multi-year water/sewer system improvement project.
At auctions Tuesday morning, the lowest bidder for the road program bonds was Janney Montgomery Scott, LLC., while BOSC, Inc. was the lowest bidder for the water/sewer bonds.
The road program bonds will be funded through the property tax referendum approved by voters in March 2012. The referendum allows the village to issue $20 million in bonds over several years to fix the village's deteriorating roads.
The water/sewer bonds will be paid for through water and sewer revenues.
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