W. Dundee Trustees pick few projects over high debt

Just over a month after West Dundee trustees discussed taking on more debt to finance a handful of infrastructure improvement projects, the village board has shied away from issuing a multimillion dollar bond.

The village board on Monday instead recommended using about $600,000 in available funds to complete the most-needed repairs on village streets in lieu of taking out a $5 million bond to complete a two-year capital improvement program, repay a $2.78 million bond and other projects.

Trustee Norm Osth questioned why the village would issue another bond without knowing where the money would be spent.

"We should borrow only enough to spend on what we have committed to," Osth said. "The problem is we can't talk about money without addressing projects first."

However, village staff suggested the board take advantage of historically low interest rates, competitive bids and lower costs that are currently available.

Still, the consensus among the board was to rework a list prioritizing streets that need repair to match the $600,000 the village has available. The village will likely wait about six months to issue a $5 million bond to complete work such as a $135,000 cross connection of the village's water system to Carpentersville; another $1.4 million in street and infrastructure repairs; and the repainting of the Spring Hill Water Tower; as well as the repayment of the remaining $2.78 million from a 2008 bond.

The village board scrapped a $60,000 tree replacement program indefinitely.

"I am all for trees, but I don't think it is a priority if it is something we have to borrow money to do it," Trustee Patrick Hanley said.