Local News

Bond restructuring is positive sign amid Flossmoor’s fiscal challenges

Flossmoor’s stellar financial rating was reaffirmed this week as the village refinanced bonds at a considerably lower interest rate, with a savings of $85,000.

Still, village officials warned that Flossmoor is entering a precarious fiscal period and said residents may be asked to approve an increase in the local sales tax rate as early as next spring.

Village board members Monday approved a three-tiered package allowing the refunding of the 2002 bonds, which were used to build the current Flossmoor Public Library building. The interest rate for that bond issue was 4 . . .

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