LCIT 4/16/26

The LaSalle County Board held a meeting on April 16, 2026, primarily focused on discussing the county's bond financing and the management of its insurance trust fund. Representatives from Bernardi Securities provided a detailed overview of the county's current bond status, outstanding debt, and financial disclosures, emphasizing the importance of maintaining the trust fund and the potential need for future bonding. The board discussed the use of approximately $9.1 million in iFiber funds as a short-term solution to cover trust obligations through 2032, while acknowledging a $3 million shortfall that might require additional funding strategies such as issuing bonds or adjusting tax levies. The meeting also covered the timeline and costs associated with bond issuance, with an estimated 9-month process and about 1% issuance cost. Additionally, the board reviewed monthly financial reports, insurance claims, and loss control activities, including safety training and equipment updates. No immediate bond issuance decisions were made, but the board planned further discussions in upcoming meetings to address the trust fund's long-term sustainability and the allocation of iFiber funds.