Libertyville gets OK to issue $20 million in road bonds
Streets in Libertyville will be getting an extensive makeover after voters approved issuing $20 million in bonds for road repairs.
Unofficial totals with all 17 precincts reporting showed voters by a 2,121 to 1,428 tally agreed to increase property taxes to pay for the bonds to be issued over the next four years. The owner of a $300,000 home will pay an extra $34 per year initially, rising to a total of $136 per year in additional property taxes to fund the work.
Village officials say they will use the proceeds to repair and resurface 30 miles — or about one third — of village streets over the next several years beginning in 2013.
The village normally spends about $1 million per year on roads but has fallen behind.
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