Park Board holds hearing for $350,000 bond
CARLINVILLE (Feb. 22, 2018) – A bond for up to $350 thousand to be used for pool repairs was the subject of the public hearing held during last week’s Carlinville Park Board meeting.
Vice president of First Midstate Incorporated Kevin Wills lead the hearing which was necessary to begin the bond issuing process.
“All this does is give us the greenlight to go forward when you tell us,” Wills said. “If you decide that you don’t need to do it, a grant came through and you don’t need the money, you’re not on the hook for anything.”
When the park board does accept the money, it would result in a temporary tax increase for Carlinville properties until the time the bond is repaid.
“If I live in your district and I live in a house valued at $100 thousand, I’m going to pay $15 extra,” Wills explained.
Park districts operating in Ill. are authorized to issue bonds up to one half of one percent of their equalized assessed value without public approval as long as two requirements are met: a public hearing must be held and notice of the hearing must be given in the newspaper at least one week and no more than one month prior to the hearing.
Despite no members of the public attending the hearing, the park board has met those requirements. They now have up to three years to decide when and how much of the $350 thousand they will accept. This money may be spent on any capital expenses though according to Administrator Regie Byots, it will primarily be used for “pool renovations.”
Also covered during last week’s park board meeting, youth baseball, softball and tee-ball sign ups are currently open. Additionally, the swimming pool will host five sessions a day of swimming lessons this summer, three in the morning and two during the evening. “A lot of parents rely on babysitters and grandparents to bring their kids,” said Byots. “So we decided to see how a couple of evening sessions went.”