Officials in La Grange Park are preparing to put a referendum question on the March 17 municipal election ballot asking voters to approve $10 million in general obligation bonds for the village roadway program.
The Village Board — and voters — approved issuing a similar $10 million in bonds in 2016, also for the roads program, and the final payments will be in 2026.
“The bonds may be issued with the same annual payment as the 2016 bonds resulting in no increase compared to the existing debt service property tax levy,” Robert Lautner, finance committee chair, told his board colleagues.
Because La Grange Park is not a home rule community, state law requires voter approval for bonds supported solely by a property tax levy.
If the referendum is approved, the bonds will be issued in time fo