Title
Public Hearing on the Issuance of not to exceed $32 Million of Recovery Zone and Build America Bonds for the purpose of defraying the cost of providing road improvements to public roads within the County, including the widening and reconstruction of Route 21 from Route 137 to Route 120.
Staff Summary
• The purpose of the public hearing will be to receive public comments on the proposal to sell bonds of the County in the amount of not to exceed $32 Million for the purpose of defraying the costs of providing for road improvements to public roads within the County including cooperating with the State of Illinois to provide for the improvement of Illinois Route 21 from Illinois Route 137 to Illinois Route 120.
• Work may include, without limitation, costs of studies and administration, land acquisition and assembly site improvement, including demolition and remediation, rehabilitation, and public infrastructure improvements such as intersections, sidewalks, landscaping traffic signals, curb and gutter, and the accommodation of utilities improvement and relocations.
• Lake County will use a portion of its annual ¼% Sales Tax for Transportation and Public Safety to pay back the bonds.
• Notice of this public hearing was published on August 17.