Village finance advisor Harry presented a presale review on March 18 of a parameters resolution authorizing the sale of general obligation promissory notes not to exceed $3,335,000 to fund village projects in 2025.

Harry outlined a timeline: a rating call with S&P scheduled for the following Monday, distribution of the official statement around April 2, an anticipated bond sale on April 9 and funds available to the village on May 1. He said the official statement distribution is being timed to reflect the outcome of an upcoming referendum so the market receives current financial information.

The advisor described how the proposed issuance would be allocated: about $950,000 of shorter-life levy-supported projects amortized over five years; roughly $1,100,000 of longer-life levy-supported assets amortized over 10 years; about $600,000 for police projects amortized over a longer term; approximately $465,000 for water utility installations amortized over 10 years; and about $70,000 each for water and sewer equipment amortized over five years. After issuance costs and assumed interest earnings during the spend-down period, the issuance size reached $3,335,000 in the presentation.

Harry warned that the model assumes a library referendum passes and the library is built; that assumption affects near-term debt-service levy projections. Under the library assumption, the debt-service levy was shown at about $1.6 million for 2025 and stepping up to roughly $2.27 million in 2026, with a further increase to about $2.4 million in 2026 noted in the presentation. The presentation also included a projection showing higher debt-service levy levels in later years and a peak utilization percentage of the village's general-obligation debt capacity under the state's 5% equalized-value limit; the presenter gave those capacity percentages as examples tied to whether the library referendum passes.

Board members asked questions after the presentation; one trustee linked the bond/timing discussion back to the recently approved Hay Day developer agreement, asking whether the bike-path portion of that project affects the borrowing plan. The transcript records the advisor offering to take questions but does not show a vote on the parameters resolution during the provided excerpt.

Context: The parameters resolution would set bid-day constraints and authorize designated staff to award the sale on behalf of the board if bid conditions are met. The village's use of a general-obligation pledge was presented as a way to access lower financing costs by combining levy-supported and utility projects under a single issuance.