The Board of Commissioners recognized the Lakers U14 Boys Green team for winning the National Illinois Soccer League US Soccer Club Cup Championship. Each team member was presented with a plaque and a gift certificate to Dairy Queen.
The Board of Commissioners also recognized Head Coach, Tony Saguto, who had just recently stepped down from serving on the Glen Ellyn Travel Soccer Committee after five years of volunteer service.
Speer Financial Presentation
- 2012 Non-Referendum Bonds
Mr. Dave Phillips of Speer Financial presented the Board of Commissioners with the Park District’s option of issuing non-referendum bonds for 2012. The options presented included a three or four year maturity schedule.
The Board of Commissioners asked staff to present a list of capital projects for the next 3 years at the September Workshop Meeting, so the Board of Commissioners will have a better idea of what the money could possibly be used for, and allow the Board of Commissioners to decide which time table, if either, will be used for the issuance of the non-referendum bonds. - Refinancing Options
Mr. Dave Phillips addressed the Board of Commissioners about the possibility of refinancing the 2006 referendum bonds. He explained that these bonds are not callable until 2014, so by refinancing at this present time the Park District would not be saving any money.
The Board of Commissioners came to a consensus that now would not be a good time to refinance the referendum bonds because there would be no cost savings for the District. The Board of Commissioners may decide to refinance the bonds in the future if and when the time is appropriate.
The Citizens' Finance Committee presented a recommendation for the Board to look at ways the park district can increase program profitability.
