Rolling Ridge Special Service Area Fund

Village of Northfield, IL FY2023-24 Approved Budget

Function and Bond Status

Established in 2018 to account for the proceeds of a $1.15 million bond issued for capital improvements including the following: street resurfacing/reconstruction, storm sewer improvements, water main & sanitary sewer improvements on Rolling Ridge Road, and a private street of 15 residences. Upon completion, the sanitary system was dedicated to the Village while the street and storm water remained private. All improvements were paid for through the levying of a special service tax that is paid for by the homeowners who benefited from the work. The bonds are secured by a tax levy on all taxable property in the SSA and carry a 2.85% interest rate. They are scheduled to mature in December 2032.

Rolling Ridge SSA Debt Fund Revenues and Expenditures for Fund/Dept 24-00

Longmeadow SSA Debt Service Fund Balance