The Twin Lakes Village Board passed a 2013 budget that included a property tax levy of $3,296,634 — the same levy as the current year.
The unanimous vote took place at Monday’s regular Village Board meeting.
Also at the meeting, the board unanimously approved a pair of bond resolutions related to the refinancing of eligible General Obligation and TIF debt. The board authorized the issuance and sale of $2,240,000 General Obligation refunding bonds and authorized the issuance and sale of $1,590,000 General Obligation promissory notes.
Rates for the borrowing ended up being lower than the 3 percent projected by the village’s consultant, Lantern Associates, said village administrator Jennifer Pollitt, adding that these were ” incredible rates for long term borrowing.” As discussed at earlier meetings, the term for the bonds was to be 20 years.
