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.
Organizations in this Story
112 Algonquin Rd
Barrington, IL - 60010-5102