Published by admin on Tue, 12/01/2020 - 4:37pm
In 2015, just weeks after a powerful EF-3 tornado struck the village of Coal City town officials issued bonds to cover the unexpected costs of the storm, and the burden of that debt is being passed along to taxpayers.
As Village Administrator Matt Fritz explains, the village utilized its existing debt issuance capability and pledged alternative revenue bonds to raise the funds necessary to begin and continue recovery immediately after the storm.