Barrington Hills considers police pension bond
The Village of Barrington Hills board of trustees held its regular meeting Sept. 28.
The trustees had a lengthy discussion on the possibility of taking out a pension obligation bond to fund police pensions. Trustee Bryan Croll said the move could potentially save the village up to $4.5 million. The village would need to pay $23,500 to a financial services company to draw up the bond. The trustees agreed to send the issue to the Finance Committee, where it could be discussed as part of a public hearing.
The village then passed an ordinance allowing the village to take advantage of a new collective bargaining agreement with police organizers that allows the village to hire three part-time officers.
It also approved a five-year plan for road maintenance throughout the village, a contract with Alliance Contractors of Woodstock for repairing Old Hart Bridge and a permit for the building of an artificial lake at 385 Spring Creek Rd.
Before adjourning, the trustees officially appointed Liz Olsen to the Heritage and Environs Committee.
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112 Algonquin Rd
Barrington, IL 60010-5102