Village of Montgomery Waterworks Revenue Bonds
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The Village of Montgomery, Illinois intends to issue Waterworks Revenue Bonds in an aggregate principal amount not to exceed $3,905,000. These bonds will be used to finance improvements to the Village's waterworks system. The bonds will be payable solely from the revenues of the waterworks system. The project is expected to have a useful life of at least 50 years. The Village is also exploring loan options through the State of Illinois' Public Water Supply Loan Program. If loan funds are unavailable, the Village may pursue conventional public municipal markets for financing. The Village has outstanding bonds that are subordinate to these new bonds with respect to system revenues.
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