SG issues bond for water meter replacement program

By on September 9, 2011

SUGAR GROVE—The Sugar Grove Village Board on Tuesday voted 6-0 to approve the issuance of General Obligation Alternate Bonds for the water meter replacement program.

According to a document from Finance Director Justin Vanvooren, the village will undertake a replacement of the current water meter system utilized throughout Sugar Grove, and will replace all water meters in the village and install a fixed-point reading system, which will be installed on the water towers and allow staff to get reads on demand and receive codes indicating leaks. The document also states that the board must first authorize issuance of Waterworks and Sewerage Revenue Bonds, or General Obligation Alternate Bonds, in lieu of Revenue Bonds, which is an authorization required under the Local Government Debt Reform Act.

The board’s ruling is subject to attorney review.

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