Village of Westmont General Obligation Bonds for Capital Projects
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2301716
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The Village of Westmont, DuPage County, Illinois, intends to issue general obligation bonds in one or more series, not to exceed an aggregate principal amount of $35,000,000. These bonds will be used to finance various capital-related projects, including the construction of a new fire station and improvements to the Village's waterworks system. Additionally, the bonds will cover certain costs associated with their issuance. The bonds will be payable from collections distributed to the Village from Retailer's Occupation Taxes, Service Occupation Taxes, Use Taxes, and Service Use Taxes. If these revenues are insufficient, payment will be secured by ad valorem property taxes levied against all taxable property in the Village. The Village is also authorized to use Net Revenues from its Waterworks System and Non-Home Rule Sales Taxes to cover debt service. A public hearing regarding the proposed bond issuance is scheduled for February 19, 2026, at 6:00 p.m. at the Village Hall, located at 31 West Quincy Street, Westmont, Illinois. The public will have the opportunity to comment on the proposal. A petition signed by 1,187 or more electors can request that the issuance of the bonds be submitted to referendum, with the general election date set for November 3, 2026.
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