With a $170 million federal loan being hung up, the city of Yorkville took another step to secure $35 million in financing for the Lake Michigan water project.
The City Council previously approved a $35 million financing bridge to ensure the city can pay the DuPage Water Commission when the bills come in.
City Finance Director Rob Fredrickson said during the Aug. 11 City Council meeting the city received a fixed-rate option and a variable-rate option from BMO Harris Bank on the city’s 2026B Debt Certificate RFP.
Fredrickson said the variable-rate option “should fit our needs pretty well.” He said a previously approved ordinance needs to be revised and approved again by the City Council before moving forward.
If the revision is…