Village Board Approves $5.88 Million Combined Revenue Bond Sale

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Recently the Village approved a $5.88M Combined Revenue Bond, Series 2022A for the purpose of paying the cost of additions, improvements and extensions to waterworks system, storm water system and sewerage system and refunding the Villages Waterworks System Revenue Bonds, Series 2012A, dated March 29, 2012.

Through listening to our community and working hard with our contracted engineers and financial advisors, the Village board and staff identified and put together a plan that will improve and/or replace the villages most neglected water and street infrastructure.

The table below is Union Grove’s Capital Improvement Plan and Funding Uses.

Once the Capital Improvement Plan was decided on and approved, the next step was to find a responsible way to pay for the improvements without raising taxes. The Village staff and financial advisors found a way to accomplish that by presenting the Capital Improvements Financing Plan. (see table below)

Initially a total of $3.6 million in road and infrastructure projects were planned in 2022; of which, $2.6 million relates to construction on
Milldrum St. between 18th Ave. to 17th Ave., including pavement and curb replacement, water main enlargement (from Well #4) and
looping, sanitary sewer, additional sidewalks and reconstruction of the lift station located at Milldrum and 18th. Well #4-related
rehabilitation work is also planned, set to total $700,000 in 2022. (All projects are subject to scheduling issues and approvals). Also
included is the refinancing of approximately $1.8 Million for three 2012 Water revenue bonds 2012A.
We are hopeful that some costs for the projects may be offset with the possibility of future grant opportunities, however, the Village
cannot reasonably assume that such monies will be awarded.
Please feel free to give us a call if you have any questions or if you would like a hard copy of the full report referred to as the Combined
Utility Revenue Bonds, Series 2022A
As always, the goal of the Village Board and Staff is to provide value and present the most cost effective methods to deliver services to
the taxpayers.

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