The Homewood-Flossmoor Park District is taking advantage of the market and refunding two general obligation bonds totaling $10.6 million for lower interest rates.
The move should save the park district approximately $1.28 million in interest. The switch also will give the park district the ability to take on extra borrowing in the future, if needed.
At the Tuesday, Aug. 17, board meeting, park commissioners took the first step approving an ordinance to refund the $495,000 principal on a bond issued in 2011. It replaced a bond from 2003 that was . . .