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Ellsworth Village Board approves financial measures for development

The Ellsworth Village Board approved several resolutions dealing with finance and bonds Monday.

The board unanimously approved three resolutions recommended by the Finance, Purchasing and Buildings Committee to: authorize $325,000 of general obligation bonds for community development projects in TID No. 10, the property where the former U.S. Army Reserve Center once was in the Midway section; authorize $1,060,000 of general obligation refunding bonds; and provided for the sale of $1,385,000 of taxable general obligation corporate purpose bonds.

The purpose of these resolutions, according to Village President Gerald DeWolfe, is not only help with financing the development of the American Legion-owned property, but also to roll together other bonds the village has in order to save an estimated $85,000.

Board members also approved from closed session allowing the committee to enter into a developer's agreement for the Legion property and property in the East End Industrial Park which a developer had been looking into.

For more please read the May 9 print version of the Herald.