and Authorizing Its Execution
This Resolution was adopted.
A Resolution Approving a Contract with R.W. Dunteman Company for
Project No. 26-6 Pavement Preservation, in an Amount not to Exceed
$588,000 and Authorizing its Execution
H.
I.
This Resolution was adopted.
A Resolution Approving a Purchase Price Agreement with The Alphabet
Shop, Inc. for Illuminated “Oak Park” Lettering Panels for the Oak Park
Avenue Streetscape Project, in an Amount not to Exceed $51,380,
Authorizing its Execution, and Waiving the Village’s Bid Process for the
Agreement
XV. Regular Agenda
A Resolution Approving Certain Capital Improvements in and for the
Village and Expressing Official Intent Regarding Certain Capital
Expenditures Related to Such Capital Improvements to be Reimbursed
from Proceeds of one or More Obligations to be Issued by the Village of
Oak Park, Cook County, Illinois.
J.
CFO Kevin Bueso and representatives of Stifel, Speer Financial and bond
counsel presented a multi-year capital-financing framework previously
reviewed by the Finance Committee on June 18 and July 2. The framework
addressed the Oak Park Avenue streetscape, a police station, the Dr.
Percy Julian/Chicago Avenue streetscape, Village Hall improvements, the
Bike Plan and Vision Zero. Presenters stated that the reimbursement
resolution expressed the Village’s intent and preserved flexibility; future
debt issuances would require separate Board authorization.
The presentation reviewed existing debt, proposed 2026A, 2027 and 2028
issuances, estimated property-tax impacts, debt-service structuring, future
borrowing capacity and the Village’s AA credit rating.
Staff stated that the recommended base-case structure sought to keep
debt service relatively level while preserving capacity for future Boards.
Trustees discussed asset life, pension-funding assumptions, credit-rating
sensitivity, taxpayer impact and the comparative advantages of the two
financing scenarios. Trustees emphasized that approval did not constitute
final approval of each future capital project.
It was moved by Village Trustee Derek Eder, seconded by Village Trustee Jenna
Leving Jacobson, to approve the Resolution. The motion was approved.
The roll call on the vote was as follows:
5 -
AYES:
Village Trustee Eder, Village Trustee Enyia, Village Trustee Leving Jacobson,
Village Trustee Taglia, and Village Trustee Wesley
0
NAYS:
1 - Village Trustee Straw
By Phone: