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Council prepares for decisions on debt issuance

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The Elgin City Council continues to discuss issuing certificates of obligation to fund millions of dollars’ worth of projects, such as necessary infrastructure upgrades, and will hear input from citizens at a public forum scheduled for next Monday evening before any final decisions are made. During the March 9 meeting, at the beginning of the Elgin City Council’s discussion of the topic, the council voted on their intent to issue certificates of obligation for 2021, a mechanism for the city to borrow money for capital improvement projects, with a not-to-exceed amount of $25.9 million. Due to increasing property values, the issuance ...

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