Archive | April, 2011

Saturday, April 30, 2011 in Winfield

April 29, 2011

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Tomorrow is a big day for Winfield.  The Illinois Prairie Path clean up takes place at 9am at the trail head at County farm road and Geneva Road.

And the 6th Annual Reforest Winfield Tree Sale takes place at the District 34 School front yard at Winfield Rd and Beecher St.  Please stop by at 10am to purshase your tree.  All proceeds go to benefit the Winfield Riverwalk.

Plant a tree today!!

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Erik Spande Appointed Trustee

April 17, 2011

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Congratulations to Erik Spande and to Winfield.  Erik Spande will be a great addition to the village board, he was appointed to fill the vacancy left by Trustee Joel Kunesh.    Erik’s involvement with the village goes back several years starting with the Environmental Concerns Committee.   He has served on the Riverwalk Committee, the Stormwater Committee and Illinois Prairie Path.

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TAXES

April 1, 2011

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Winfield is not a “Home Rule” community which in part means that the village government cannot raise taxes without voter approval.  That is why the road referendum was on last year’s ballot.

The village board cannot just impose higher taxes, actually tax rates have been decreasing due to the tax rate cap.

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Property Taxes & New Construction

April 1, 2011

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We bring to you information about how the village of Winfield actually operates.  Being a board member is no simple task, it is serious work and should be taken seriously.

Please read the attached pdf about property taxes and new construction in Winfield.

 

Obtained from the Village of Winfield

 

Village of Winfield Property Tax Effects

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Village Garners Strong Bond Rating

April 1, 2011

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Village of Winfield Garners Strong Aa2 Bond Rating

Saves Nearly $130,000 Through Refinancing

 

The Village of Winfield will save $128,962.50 in principal and interest payments through the successful sale of General Obligation Refunding Bonds.  The bonds were originally purchased in 2003 when the Village decided to finance various extensions and improvements to the water and sewer system.   The savings resulted from refinancing the existing 2003 bonds to take advantage of lower interest rates.  This savings reflects the reduction in interest rates on the bonds from the existing rate of 4.13% (2003 Bonds) to 3.51% (new 2011 bonds).

In addition to refunding the 2003 bonds, the Village used this opportunity to talk with the rating agency, Moody’s Investor Services, and received an Aa2 Credit Rating.  This strong credit rating follows a recalibration in the marketplace that improved Winfield’s previous single A1 rating on the original 2003 bond issue.  Bond insurance was not necessary because of the strong underlying rating of the Village bonds based on the financial strength and stability of the Village.  The higher bond rating reflects a better investment with lower risk, garnering more favorable interest rates for Winfield.

“We are always looking for opportunities to save the Village money and watching the bond market is one of our responsibilities” said Finance Director Nadine Alletto.  “Many factors have to align to consider refinancing bonds.  They have and we acted on this cost-saving measure.”

The sale of the bonds came about through collaboration with bond consultant First Trust Portfolios, which researched this opportunity for the Village and handled the bond sale.

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