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Village refinancing existing sewer and water debt  Share
New Lenox village officials are refinancing a sewer and water debt to take advantage of attractive, lower interest rates and the availability of longer terms. The village issued $8.8 million in General Obligation Bonds to refund the outstanding debt. Officials projected that refinancing will reduce the combined principle and interest payment over the next few years, as follows: Fiscal Year 2010, $1.3 million; Fiscal Year 2011, $1.5 million; and Fiscal Year 2012, about $1 million. The village board approved an ordinance authorizing issuance of General Obligation Bonds ''not to exceed $8.8 million'' at Monday's meeting. Meanwhile, in other business at that meeting, the board recognized Edward ''Ed'' Selvas for his ''outstanding humanitarian work'' in New Lenox.
The board approved a resolution citing Selvas as a man who ''defines the word humanitarian through his unselfish efforts to improve the lives of other people in the course of numerous volunteer activities, including the United Way of Will County and Trinity Services, where he organizes and conducts an annual picnic for the Trinity services.'' The resolution, presented by Mayor Tim Baldermann, also noted that Selvas ''has received many awards, including the AFL-CIO Community Service award, United Way award for Service to the Community, and the Lincoln-Way Special Recreation Association award.'' A member of the New Lenox Park Board from 1982 to 1995, he served as board president and vice president and initiated the Park District Tree Dedication program. ''Ed Selvas goes above and beyond in his attempt to give back to the community through his charitable contributions. ''He lives his life searching for ways to care for his fellow man, always putting others before himself,'' the resolution concluded. ''Congratulations to Ed, his wife of 47 years, Barbara, and their family,'' Baldermann said. In another matter on Monday, the board approved a request from Silver Cross Hospital officials for a 13-by-24-foot temporary banner at the top of the new hospital now under construction at Route 6 and I-355. Geoff Tryon, vice president of operations for Silver Cross, said the banner displaying the hospital name was made for the recent topping-off ceremony. ''We would like to keep it in place until the construction of the building is complete,'' he said. ''We think it is important to identify the building. Obviously, most New Lenox residents know about the project; however, with the exposure to I-355 and Route 6, we think it is important to announce what is coming to the community. We are very proud of the project, and I am sure that the village is proud and excited, as well.'' The board agreed to allow the banner for one year, with an option to renew for one additional year. The six-story building is slated for completion in early 2012. But while the board permitted the hospital to continue to display its banner, it denied a request for a 140-square-foot banner for the Central Presbyterian Church, 1101 South Gougar Road. The banner currently is displayed on the church bell tower, according to Pastor Hope Sibson. She said the church has a sign, but noted that it does not provide the visibility that the banner does. Officials said they understood the problem, but expressed concern that allowing the church to have an oversized banner would set precedence and result in dozens of similar requests. Mayor Baldermann suggested a smaller banner until the church can construct a more effective permanent sign. Also Monday, the board agreed to sponsor the 2010 New Lenox Area Historical Society calendar. The calendars are a big part of the NLHS's ongoing effort to collect photos of the past and to gather and record the history of the village. The calendars feature photos and narrative of historic New Lenox places. Karen Haave is a reporter for Russell Publications.
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