Village will pay off certain road bonds

By on July 23, 2010

SUGAR GROVE—The Sugar Grove Village Board on Tuesday approved a resolution providing for the retirement of certain municipal indebtedness through the use of motor-fuel tax funds.

The village issued $590,000 of general obligation alternate revenue source road bonds in July 2008 with the intention of using motor-fuel tax funds to address indebtedness.

Village officials will propose a similar resolution each of the next three years.