Barrington park officials to discuss new bond issue for improvements

Barrington Park District commissioners will discuss the possibility of a new bond issue for capital projects Monday.

But they emphasized that none of the work being considered would rise to the level of a property tax hike requiring a voter referendum.

That level of high-profile project is probably done for a while with the recent completion of the expanded recreation center at Langendorf Park, Commissioner Linda Hovde said.

The rec center expansion project was funded by a $12 million tax hike voters approved in February 2008.

What park officials will consider Monday is more along the lines of upgrading current facilities in a way that will be much more subtle from the public's perspective, Hovde said.

One example is the possible purchase of a new boiler for the park district's locker rooms.

She pointed to the opportunity to lock in current low interest rates as a reason to sell bonds to finance such projects. "We're seizing the possibility of restructuring by taking advantage of current rates," Hovde said.

Taxing bodies are permitted to issue bonds without voter approval as long as any tax rate increase doesn't exceed the tax cap.

That's the level of bond issue the park district is considering, Hovde said. She added that officials are still grateful for the support that was shown two years ago.

The park board's finance committee Monday also will consider the transfer of surplus money in the district's recreation fund to the capital projects fund.

The finance committee meets at 7:15 p.m. Monday, followed by the regular board of commissioners meeting at 7:30 p.m. at the Langendorf Park Recreation Center at 235 Lions Drive in Barrington.