Elmhurst Adds $25M in Bonds for Storm Water Projects

Six to be completed in 2016 for $12 million; remaining three to be finished in 2017

Source Chicago Tribune

May 9, 2016

Looking to complete nine storm water projects, Elmhurst will seek $25 million in municipal bonds to pay for the work, according to a Chicago Tribune report.

While the approval to seek those bonds would bring the city’s total debt to just shy of $81 million, alderpersons said the importance of the projects more than outweighs the expense. The burden may not fall entirely on property owners, as a home rule sales tax will contribute to paying back the city’s debt service.

Six of the storm water projects—totaling $12 million—are expected to be completed in 2016 with the remaining ones to be finished next year.

Source: Chicago Tribune