Village of Lisle | Fiscal Year 2023/2024 Budget
The Village of Lisle is a non-home rule community. Debt restrictions in the State of Illinois differ for home rule municipalities and non-home rule municipalities. Non-home rule municipalities are limited in the amount of debt that can be incurred to 8.625% of the community’s equalized assessed valuation.
The Village’s debt limit is as follows:
2022 Estimated Equalized Assessed Valuation (EAV) - $1,145,927,996
Multiplied by 8.625%
Maximum Debt Limit - $98,836,290
On August 24, 2016, the Village issued $3,700,000 General Obligation Refunding Bonds (Alternate Revenue Source), Series 2016 to replace the 2004 Series Taxable Alternate Revenue bond issue, which led to considerable savings for the Village. The original bonds were sold to finance a sports complex on the Benedictine University Campus. These bonds are payable from the additional 2% hotel/motel tax and are being repaid by the 2016 Pledged Hotel/Motel Tax Fund.
The Village of Lisle maintains a bond rating of Aa1 from Moody’s Investors Service for its general obligation debt. As of May 1, 2023, the Village’s total outstanding debt of $2,455,000 is 2.48% of the Village’s Debt Limit. The current population of the Village per the latest census is 24,223, which results in a gross G.O. debt per capita as of May 1, 2023 of $101.