Melrose.pngThe Village of Melrose Park, Illinois successfully issued $8,910,000 General Obligation Refunding Bonds, Series 2015 on April 14, 2015.

Located in Cook County, Illinois, the Village has a population of approximately 25,411.  The 2015 Bonds were issued to refund the Village’s outstanding General Obligation Tax Increment Bonds (Alternate Revenue Source), Series 2002A, General Obligation Tax Increment Bonds (Alternate Revenue Source), Series 2002B, General Obligation Tax Increment Bonds (Alternate Revenue Source), Series 2003A, General Obligation Tax Increment Bonds (Alternate Revenue Source), Series 2003D and General Obligation Bonds (Alternate Revenue Source), Series 2003E.

The Village’s refunding generated a net present value savings of 7.79%, saving the Village over $740,000 in interest expense.  The Bonds are rated “A” by Standard & Poor’s Ratings Services.