Round Lake Beach borrowing $7.9 million
Round Lake Beach officials have agreed to borrow $7.9 million to save money on an old debt and pay for road work this coming construction season.
The village board on Monday agreed to issue $7.9 million in bonds, a portion which will pay off a 2006 bond issue used for dredging and stream bank work. That will save the village about $200,000 in interest payments, according to Village Administrator David Kilbane.
The second part of the bond issue will fund $5 million in road resurfacing work in the southwest part of the village, south of Rollins Road, west of Cedar Lake Road, east of Fairfield and north of the village's southern border.
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