Elgin passes 2024 budget
Elgin City Council members on Wednesday passed a $367.5 million budget for 2024.
The approved budget included a late change that took $5 million from a discretionary fund and put it toward reducing the amount of money the city would borrow through bond sales for lead service line replacement.
By issuing $15 million in bonds instead of $20 million, the city stands to save about $1 million in interest over the next five years.
The city still has $1 million in discretionary funds available for other initiatives not included in the budget.
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