Libertyville Village Trustees Approve $9.2M in Road Improvement Bonds
Staff estimates 45 percent of Libertyville's streets need repair.
Libertyville Village trustees approved the sale of two municipal bonds Tuesday night that will provide initial first year funding for a $20 million major roads and sewers improvement project over the next five years. The road bond program was approved by voters at the March 20 primary election. Work will get underway early in 2013. Finance Director Patricia Wesolowski said one bond was a general obligation bond in the amount of $5 million allocated only for local road repairs. Speer Financial had sold it earlier in the day at an interest rate of 2.02 percent. Trustees were pleased with the daily interest rate fix. A second alternate general obligation bond in the amount of $4.2 million was also sold Tuesday at an interest rate of 2.11 …
