2016, 2017 & 2019 Bond Funds

Village of Northfield, IL FY2023-24 Approved Budget

Function

In 2016, the Village held a successful referendum, to issue $7,500,000 in bonds for capital improvements including: street resurfacing/ reconstruction; storm sewer improvements; sidewalk and streetscape improvements; and, rehabilitation of life safety systems. These bonds were issued in three tranches as follows:


  • In 2016, a $2.2 million bond was issued. The debt service is secured by a tax levy on all taxable property in the Village and carries a 1.84% interest rate. They are scheduled to mature in 2030.
  • In 2017, a $3.9 million bond was issued. The debt service is secured by a tax levy on all taxable property in the Village and carries a 2.4% interest rate. They are scheduled to mature in December 2032.
  • In 2019, the final $1.4 million in bonds were issued. The bonds are secured by a tax levy on all taxable property in the Village and carries a 2.145% interest rate. They are scheduled to mature in December 2033.

In FY2022/23 the replacement of the Bosworth Bridge was planned in the 2019 Bond Project Fund. Until, that project is completed we will not know what, if any, balance remains. No work is planned in FY2023/24.



2016 Bond Fund Debt Service Revenues and Expenses for Fund/Dept 15-00


2016 Bond Fund Debt Service Balance

2017 Bond Fund Debt Service Revenue and Expenditures for Fund/Dept 22-00


2017 Bond Fund Debt Service Balance

2019 Bond Project Fund Revenue and Expenses for Fund/Dept 25-00


2019 GO Bond Fund Project Fund Balance

2019 Bond Project Fund Debt Service Revenue and Expenses for Fund/Dept 26-00


2019 Bond Fund Debt Service Balance