NW Illinois News

City of Polo City Council met March 18.

Here is the agenda provided by the council:

The Public Hearing was called to order at 6:30 p.m. at City Hall of the City of Polo, Ogle County, Illinois (the “City”), 115 South Franklin Avenue, Polo, Illinois regarding a plan to issue not to exceed $1,250,000 in aggregate principal amount of the City’s General Obligation Bonds (Alternate Revenue Source), Series 2024 (the “Bonds”).

Doug Knapp, Mayor, as Hearing Officer read the following statement:

Good evening, Ladies and Gentlemen. This hearing will come to order. Let the record reflect that this is a public hearing being held pursuant to the requirements of Sections 10 and 20 of the Bond Issue Notification Act of the State of Illinois, as amended. Notice of this hearing was published on March 8, 2024, in the Tri County Press, a newspaper of general circulation in the City. This is a hearing regarding a plan to issue not to exceed $1,250,000 in aggregate principal amount of the Bonds. The proceeds of the Bonds will be used to (i) finance various capital improvements within the City including, but not limited to, the construction of a new city hall, and (ii) pay certain costs of issuance thereof.

The Bonds will be issued by the City in accordance with the provisions of Section 15 of the Local Government Debt Reform Act of the State of Illinois, as amended, and shall constitute a general obligation of the City, payable from (i) the City’s distributive share of State income taxes and (ii) ad valorem taxes levied against all taxable property within the City without limitation as to rate or amount.

This public hearing is required by Sections 10 and 20 of the Bond Issue Notification Act of the State of Illinois, as amended. At the time and place set for the public hearing, residents, taxpayers, and other interested persons will be given the opportunity to express their views for or against the proposed plan of financing, the issuance of the Bonds and the purpose of the issuance of the Bonds.

The Hearing Officer asked if there was anyone who wished to submit written comments. No written comments were submitted. The Hearing Officer asked all residents, taxpayers or other interested persons attending the hearing and desiring an opportunity to express their views for or against the proposed Bonds, to please stand so that they may have an opportunity to make those comments or statements.

• Sue Heyer mentioned that a lot of the public’s concerns have already been addressed by discussion that has been held at previous meetings. She highly encouraged citizens to attend city council meetings.

• TJ Graden asked for clarification that if a petition was turned in, it would actually affect the taxpayers more than if no petition was turned in.

• Phil Fossler, representative for Buffalo Township, stated that Buffalo Township will be lowering their tax levy this year which the move to the new City Hall building.

• Mark Scholl stated that he is in favor of the new City Hall building. This topic did not start overnight. The council has been talking about this for several years trying to figure out the best location for a new City Hall. He suggested that if citizens have questions about what is going on with the city, to reach out to their council members. Get all the answers before believing what you read on

Facebook.

• Daniel Ditzler stated that after attending this public hearing he has been properly informed. He felt that the Tri-County Press article made what the city was doing very confusing.

The Hearing Officer concluded the public hearing regarding a plan to issue not to exceed $1,250,000 in aggregate principal amount of the City’s General Obligation Bonds (Alternate Revenue Source), Series 2024.

Let the Record further reflect this public hearing was concluded at the hour of 7:03p.m., March 18, 2024.

https://core-docs.s3.us-east-1.amazonaws.com/documents/asset/uploaded_file/3619/Polo/4179293/BINA_TRANSCRIPT_OF_MINUTES_2024_City_of_Polo_03182024.pdf