March 16, 2026 City of West Chicago Finance Committee

The City of West Chicago Finance Committee held a meeting on March 16, 2026, primarily focused on the approval and discussion of a general obligation bond issuance. The committee reviewed the sale of $9,495,000 in bonds to finance capital improvements, including street and roadway projects. The bond sale was conducted through an open auction process, with Stifel Nicholas and Company winning the bid at an interest rate of approximately 3.85%. The committee approved the bond ordinance with the amended amount following the auction results. Costs related to the bond issuance, including underwriter fees and issuance expenses totaling approximately $82,190, were discussed. The bond closing is scheduled for April 7, 2026, with net proceeds expected to be about $9.74 million. No other procurement or budget items were addressed during the meeting.