by Sarah DeMaranville
Geneseo Current
GENESEO, IL. — The Geneseo Park District Board is expected to consider authorizing approximately $885,000 in general obligation bonds at its November 12 meeting, following a required public hearing held October 8.
Andy Thurman, Executive Director of the Geneseo Park District, confirmed that the October 8 hearing was conducted under the Bond Issue Notification Act (BINA) and did not constitute authorization to issue the bonds.
The proposed amount remains preliminary and could change before the financing is finalized.
According to Thurman, the Board is scheduled to consider the bond sale ordinance November 12, with the bond closing anticipated November 24.
As previously reported by The Geneseo Current on October 2, the proposed bonds are part of the Park District's established annual rollover financing process, which supports ongoing facility maintenance and capital improvements.
The Board's November 12 meeting is expected to provide additional clarity on the final borrowing amount and financing terms.