Flagg-Rochelle Park District Approves Bond Sales And Reports Strong Risk Management Results

ROCHELLE — The Flagg-Rochelle Community Park District board approved the issuance of $559,000 in General Obligation Park Bonds and $568,000 in Taxable General Obligation Park Bonds Series Monday night. The tax exempt bonds were awarded to Stillman Bank at 3.05 percent and the taxable bonds to Central Bank of Illinois at 3.9 percent, both about 70 basis points lower than last year. The board also heard a presentation on a potential partial refinancing of 2019 A referendum bonds, which could save the district about $7,600 per year if interest rates meet required thresholds. Administrators reported the district earned an 84 percent score in its PDRMA risk assessment, exceeding statewide averages and generating $1,331.25 in incentive funding, with a goal of reaching the full $1,500 incentive in 2026.