Arlington Heights Park District schedules hearing on $6 million bond proposal

The Arlington Heights Park District has scheduled a public hearing for Oct. 27 on a proposal to sell $6 million in general-obligation limited-tax park bonds.

The hearing is set for 6:30 p.m. at the district’s Administration Center, 410 North Arlington Heights Road. The notice says the proposed bond proceeds would pay certain outstanding debt obligations and expenses related to that payment, but does not name the obligations.

The hearing is intended to receive public comments on the proposed borrowing. Members of the public may comment at the session; the notice does not state what action the board will take afterward.

The notice is dated Sept. 30 and was published by the Daily Herald on Oct. 16. It describes a proposed sale, not a completed bond issue or a final decision to sell. It also does not provide repayment terms. The Oct. 27 hearing is the next stated step.