Title
Public Hearing on the issuance of General Obligation Bonds not to exceed $90 Million for the purpose of defraying the cost of providing road improvements to public roads within the County.
Staff Summary
• The purpose of the public hearing is to receive public comments on the proposal to sell bonds of the County in the amount of not to exceed $90 Million for the purpose of defraying the costs of providing for road improvements to public roads within the County including, but not limited to: improvement of the intersection of Rollins Road (County Highway 31) with IL Route 83 as well as a grade separation of Rollins Road and the CN Railroad, improvement of the intersection of Fairfield Road (County Highway 49) with IL Route 176, and a grade separation of Washington Street (County Highway 45) with the CN Railroad west of Lake Street.
• 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 roadway improvements, grade separations, bridges, intersections, sidewalks, landscaping, traffic signals, curb and gutter, pumping stations and the accommodation of utilities improvements 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 March 22, 2011.