Freeport Park District Bond Issuance

The Freeport Park District intends to issue alternate bonds not to exceed $2,000,000 for park land acquisition, improvements, and related expenses.

General
Open
LILS0435145
Nov 03, 2026 12:00 AM
Jan 09, 2026 12:00 PM
$2,000,000.00
Other
Local
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Contact
Lindsey Minkie
Freeport Park District, Stephenson County, Illinois
Description

The Freeport Park District is planning to issue alternate bonds with an aggregate principal amount not to exceed $2,000,000. These funds are designated for the acquisition of land for parks, as well as the building, maintaining, improving, and protecting of existing park land and facilities, and covering associated expenses. The revenue sources pledged for the repayment of these bonds will include proceeds from the District's general obligation bonds or notes, and property taxes collected for corporate purposes. Additionally, ad valorem property taxes will be levied upon all taxable property within the District without limitation as to rate or amount to cover any insufficiency in the pledged revenue sources. A petition signed by at least 1,043 voters can be submitted to the Secretary of the Board of Park Commissioners within thirty days of publication to request a referendum on the bond issuance. If no such petition is filed, the District will proceed with issuing the bonds.

Classification Codes
NAICS921130Public Finance Activities
PSCE1PAPURCHASE OF RECREATIONAL FACILITIES (NON-BUILDING)
Smart Codes
park improvementsland acquisitioninfrastructure bondspublic works financingmunicipal bondslocal government financepark district fundingrevenue bondsproperty tax bondsalternate revenue bonds
Timeline
Dec 16, 2025-Ordinance Adopted
Jan 15, 2026-Petition Filing Period Ends
Nov 3, 2026-Referendum Election Date
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