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The Finance Committee approved an ordinance authorizing up to $28.5 million in General Obligation Bonds, Series 2026, with a direct annual tax to repay the debt.
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The committee approved borrowing authority for up to $28.5 million through General Obligation Bonds, Series 2026. The ordinance also allows the Village to levy a direct annual tax to cover the bond payments. In practical terms, this moves forward financing for Village projects or needs, with repayment spread over time through the tax levy tied to the bonds.
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