Village of Hammond approves $905,000 refinancing bond issue
At their meeting Monday night, Village of Hammond trustees unanimously approved the issuance, sale and delivery of $905,000 in General Obligation Refunding Bonds to refinance the Village's existing debt. Elhers, Inc. Principal Brian Reilly presented the board with a sale day report confirming the interest rate for the sale at 2.1 percent.
Following discussions with Cedar Corporation representative Greg Adams, the Hammond Library Board proposed the "old tennis courts" area at the Village Park as the location for the new library building. Board members approved a motion by Trustee Sandy Brecht designating the old tennis courts as the location for the new library. Trustees also approved spending $15,924.48 from the Library Fines & Fees Account to purchase new flooring from Carpets Plus for the existing library.