NOTICE OF INTENT TO ISSUE BOND...
NOTICE OF INTENT TO ISSUE BOND...
NOTICE OF INTENT TO ISSUE BONDS
AND RIGHT TO FILE A PETITION
Notice is hereby given that pursuant to Ordinance No. 2026-O-07, adopted January 20, 2026 (the “Ordinanceâ€), the Village of Wauconda, Lake County, Illinois (the “Villageâ€), intends to issue its Waterworks and Sewerage Revenue Bonds (the “Revenue Bondsâ€) or, in lieu thereof, its General Obligation Bonds (Waterworks and Sewerage System Alternate Revenue Source) (the “Alternate Bondsâ€) in the principal amount of not to exceed $6,600,000, and bearing interest per annum at not to exceed the maximum rate authorized by law at the time of the sale thereof, for the purpose of paying the costs of improving the waterworks and sewerage system of the Village (the “Systemâ€). The Alternate Bonds would be payable from (i) the net revenues of the System and (ii) all collections distributed to the Village from those taxes imposed by the Village pursuant to the Non-Home Rule Municipal Retailers' Occupation Tax and Non-Home Rule Municipal Service Occupation Tax, as supplemented and amended from time to time. If these revenue sources are insufficient to pay the Alternate Bonds, ad valorem property taxes upon all taxable property in the Village without limitation as to rate or amount are authorized to be extended to pay the principal of and interest on the Alternate Bonds. A complete copy of the Ordinance follows this notice.
Notice is hereby further given that if a petition signed by 924 or more electors of the Village (the same being equal to 10% of the registered voters of the Village) asking that the question of improving the System, as provided in the Ordinance, and the issuance of the Revenue Bonds therefor, be submitted to the electors of the Village is filed with the Village Clerk within thirty (30) days after the date of publication of the Ordinance and this notice, an election on the proposition to issue the Revenue Bonds shall be held on the 3rd day of November, 2026, general election. The Circuit Court may declare that an emergency referendum should be held prior to said election date pursuant to the provisions of Section 2A 1.4 of the Election Code of the State of Illinois, as amended (the “Election Codeâ€). If no such petition is filed within said thirty (30) day period, then the Village shall thereafter be authorized to issue the Revenue Bonds for the purposes hereinabove provided.
Notice is hereby further given that if a petition signed by 693 or more electors of the Village (being equal to the greater of (i) 7.5% of the registered voters in the Village or (ii) 200 of those registered voters or 15% of those registered voters, whichever is less) asking that the issuance of the Alternate Bonds be submitted to referendum is filed with the Village Clerk within thirty (30) days after the date of publication of this notice, an election on the proposition to issue the Alternate Bonds shall be held on the 3rd day of November, 2026, general election. The Circuit Court may declare that an emergency referendum should be held prior to said election date pursuant to the provisions of Section 2A 1.4 of the Election Code. If no such petition is filed within said thirty (30) day period, then the Village shall thereafter be authorized to issue the Alternate Bonds for the purposes hereinabove provided.
The forms of petitions are available to any individual requesting one from the office of the Village Clerk.
By order of the President and Board of Trustees of the Village.
Dated this 20th day of January, 2026.
/s/ Virginia Radcliffe
Village Clerk, Village of Wauconda,
Lake County, Illinois
ORDINANCE NO. 2026-O-07
AN ORDINANCE authorizing the issuance of Waterworks and Sewerage Revenue Bonds of the Village of Wauconda, Lake County, Illinois, in an aggregate principal amount not to exceed $6,600,000 or, in lieu thereof, General Obligation Bonds (Alternate Revenue Source) in an aggregate principal amount not to exceed $6,600,000 for the purpose of paying the costs of improving the waterworks and sewerage system of the Village.
***
WHEREAS, the Village of Wauconda, Lake County, Illinois (the “Villageâ€), is a duly organized and existing municipality incorporated and existing under the provisions of the laws of the State of Illinois, and is now operating under the provisions of the Illinois Municipal Code, as amended (the “Codeâ€), and for many years has owned and operated a municipally-owned combined waterworks and sewerage system (the “Systemâ€) as set forth in Division 139 of Article 11 of the Code; and
WHEREAS, the President and Board of Trustees of the Village (the “Boardâ€) has determined that it is advisable, necessary and in the best interests of the Village to pay the costs of improving the System (the “Projectâ€); and
WHEREAS, the estimated costs of the Project, including legal, financial, bond discount, printing and publication costs and other expenses, are not less than $6,600,000 and there are insufficient funds on hand and lawfully available to pay such costs; and
WHEREAS, it is necessary and for the best interests of the Village that the Project be constructed and, in order to finance the costs of the Project it will be necessary for the Village to issue up to $6,600,000 of bonds payable from the revenues derived from the operation of the System as authorized to be issued at this time pursuant to Division 139 of Article 11 of the Code (the “Revenue Bondsâ€) or, in lieu thereof, up to $6,600,000 alternate bonds (the “Alternate Bondsâ€), being general obligation bonds payable from (i) the net revenues of the System and (ii) all collections distributed to the Village from those taxes imposed by the Village pursuant to the Non-Home Rule Municipal Retailers' Occupation Tax and Non-Home Rule Municipal Service Occupation Tax, as supplemented and amended from time to time (the “Pledged Revenuesâ€), as authorized to be issued at this time pursuant to the Local Government Debt Reform Act of the State of Illinois, as amended (the “Actâ€); and
WHEREAS, if the Pledged Revenues are insufficient to pay the Alternate Bonds, ad valorem property taxes upon all taxable property in the Village without limitation as to rate or amount are authorized to be extended to pay the principal of and interest on the Alternate Bonds:
NOW, THEREFORE, Be It Ordained by the President and Board of Trustees of the Village of Wauconda, Lake County, Illinois, as follows:
Section 1. Incorporation of Preambles. The Board hereby finds that all of the recitals contained in the preambles to this Ordinance are full, true and correct and does incorporate them into this Ordinance by this reference.
Section 2. Declaration of Intent. The Board hereby declares its intention to avail of the provisions of the Code and the Act and to issue the Revenue Bonds or, in lieu thereof, the Alternate Bonds in an aggregate principal amount not to exceed $6,600,000 for the purpose of paying a portion of the costs of the Project.
Section 3. Determination to Issue Bonds. It is necessary and in the best interests of the Village to construct the Project for the public health, safety and welfare, in accordance with the estimate of costs as hereinabove described, and that for the purpose of financing a portion of the costs thereof, there are hereby authorized to be issued and sold the Revenue Bonds in an aggregate principal amount not to exceed $6,600,000 or, in lieu thereof, the Alternate Bonds in an aggregate principal amount not to exceed $6,600,000.
Section 4. Publication. This Ordinance, together with a notice in the statutory form (the “Noticeâ€), shall be published once within ten (10) days after passage hereof by the Board in a newspaper of general circulation in the Village, and if no petition signed by 924 electors (being equal to ten percent (10%) of the number of registered voters in the Village) asking that the question of completing the Project, as provided in this Ordinance, and the issuance of the Revenue Bonds therefor be submitted to the electors of the Village is filed with the Village Clerk within thirty (30) days after the date of the publication of this Ordinance and the Notice, then the Revenue Bonds shall be authorized to be issued.
If no petition signed by 693 electors of the Village (being equal to the greater of (i) 7.5% of the registered voters in the Village or (ii) 200 of those registered voters or 15% of those registered voters, whichever is less) asking that the issuance of the Alternate Bonds be submitted to referendum is filed with the Village Clerk within thirty (30) days after the date of the publication of this Ordinance and the Notice, then the Alternate Bonds shall be authorized to be issued.
It is expressly provided that in the event that there shall be filed with the Village Clerk in a timely manner a petition, asking that the issuance of the Revenue Bonds be submitted to referendum, the Alternate Bonds shall not be authorized to be issued until such time as the issuance of the Revenue Bonds shall have been submitted to the electors of the Village and a majority of the votes cast on such question shall have been in favor thereof.
Section 5. Additional Ordinances. If no petition with respect to the issue of the Revenue Bonds or, in lieu thereof, the Alternate Bonds and meeting the requirements of applicable law is filed during the petition periods hereinabove referred to, then the Board may adopt additional ordinances or proceedings supplementing or amending this Ordinance providing for the issuance and sale of the Revenue Bonds or, in lieu thereof, the Alternate Bonds and prescribing all the details of the Revenue Bonds or, in lieu thereof, the Alternate Bonds, so long as the maximum aggregate principal amount of the Revenue Bonds or, in lieu thereof, the Alternate Bonds as set forth in this Ordinance is not exceeded and there is no material change in the Project. Such additional ordinances or proceedings shall in all instances become effective in accordance with applicable law. This Ordinance, together with such additional ordinances or proceedings, shall constitute complete authority for the issuance of the Revenue Bonds or, in lieu thereof, the Alternate Bonds, under applicable law.
Section 6. Reimbursement. With respect to expenditures for the Project paid (i) within the 60-day period ending on this date with respect to which no declaration of intent was previously made or (ii) on or after the date of this Ordinance, the Village hereby declares its intent to reimburse such expenditures and hereby allocates proceeds of the Revenue Bonds or the Alternate Bonds to reimburse said expenditures.
Section 7. Severability. If any section, paragraph, clause or provision of this Ordinance shall be held invalid, the invalidity of such section, paragraph, clause or provision shall not affect any of the other provisions of this Ordinance.
Section 8. Repealer. All ordinances, resolutions or orders, or parts thereof, in conflict with the provisions of this Ordinance are to the extent of such conflict hereby repealed.
ADOPTED by the President and Board of Trustees on January 20, 2026.
AYES: Tim Howe, Tom Shaw, Nicole Strauts, Sam Stein, David Geary
NAYS: None
ABSENT: Matthew Brown
APPROVED on January 20, 2026
/s/ Jeff A. Sode
President, Village of Wauconda,
Lake County, Illinois
PUBLISHED in the Daily Herald on January 26, 2026.
RECORDED in the Village Records on January 20, 2026.
ATTEST:
/s/ Virginia Radcliffe
Village Clerk, Village of Wauconda,
Lake County, Illinois
Published in Daily Herald Jan. 26, 2026 (319370), posted 01/26/2026
NOTICE OF INTENT TO ISSUE BONDS
AND RIGHT TO FILE A PETITION
Notice is hereby given that pursuant to Ordinance No. 2026-O-07, adopted January 20, 2026 (the “Ordinanceâ€), the Village of Wauconda, Lake County, Illinois (the “Villageâ€), intends to issue its Waterworks and Sewerage Revenue Bonds (the “Revenue Bondsâ€) or, in lieu thereof, its General Obligation Bonds (Waterworks and Sewerage System Alternate Revenue Source) (the “Alternate Bondsâ€) in the principal amount of not to exceed $6,600,000, and bearing interest per annum at not to exceed the maximum rate authorized by law at the time of the sale thereof, for the purpose of paying the costs of improving the waterworks and sewerage system of the Village (the “Systemâ€). The Alternate Bonds would be payable from (i) the net revenues of the System and (ii) all collections distributed to the Village from those taxes imposed by the Village pursuant to the Non-Home Rule Municipal Retailers' Occupation Tax and Non-Home Rule Municipal Service Occupation Tax, as supplemented and amended from time to time. If these revenue sources are insufficient to pay the Alternate Bonds, ad valorem property taxes upon all taxable property in the Village without limitation as to rate or amount are authorized to be extended to pay the principal of and interest on the Alternate Bonds. A complete copy of the Ordinance follows this notice.
Notice is hereby further given that if a petition signed by 924 or more electors of the Village (the same being equal to 10% of the registered voters of the Village) asking that the question of improving the System, as provided in the Ordinance, and the issuance of the Revenue Bonds therefor, be submitted to the electors of the Village is filed with the Village Clerk within thirty (30) days after the date of publication of the Ordinance and this notice, an election on the proposition to issue the Revenue Bonds shall be held on the 3rd day of November, 2026, general election. The Circuit Court may declare that an emergency referendum should be held prior to said election date pursuant to the provisions of Section 2A 1.4 of the Election Code of the State of Illinois, as amended (the “Election Codeâ€). If no such petition is filed within said thirty (30) day period, then the Village shall thereafter be authorized to issue the Revenue Bonds for the purposes hereinabove provided.
Notice is hereby further given that if a petition signed by 693 or more electors of the Village (being equal to the greater of (i) 7.5% of the registered voters in the Village or (ii) 200 of those registered voters or 15% of those registered voters, whichever is less) asking that the issuance of the Alternate Bonds be submitted to referendum is filed with the Village Clerk within thirty (30) days after the date of publication of this notice, an election on the proposition to issue the Alternate Bonds shall be held on the 3rd day of November, 2026, general election. The Circuit Court may declare that an emergency referendum should be held prior to said election date pursuant to the provisions of Section 2A 1.4 of the Election Code. If no such petition is filed within said thirty (30) day period, then the Village shall thereafter be authorized to issue the Alternate Bonds for the purposes hereinabove provided.
The forms of petitions are available to any individual requesting one from the office of the Village Clerk.
By order of the President and Board of Trustees of the Village.
Dated this 20th day of January, 2026.
/s/ Virginia Radcliffe
Village Clerk, Village of Wauconda,
Lake County, Illinois
ORDINANCE NO. 2026-O-07
AN ORDINANCE authorizing the issuance of Waterworks and Sewerage Revenue Bonds of the Village of Wauconda, Lake County, Illinois, in an aggregate principal amount not to exceed $6,600,000 or, in lieu thereof, General Obligation Bonds (Alternate Revenue Source) in an aggregate principal amount not to exceed $6,600,000 for the purpose of paying the costs of improving the waterworks and sewerage system of the Village.
***
WHEREAS, the Village of Wauconda, Lake County, Illinois (the “Villageâ€), is a duly organized and existing municipality incorporated and existing under the provisions of the laws of the State of Illinois, and is now operating under the provisions of the Illinois Municipal Code, as amended (the “Codeâ€), and for many years has owned and operated a municipally-owned combined waterworks and sewerage system (the “Systemâ€) as set forth in Division 139 of Article 11 of the Code; and
WHEREAS, the President and Board of Trustees of the Village (the “Boardâ€) has determined that it is advisable, necessary and in the best interests of the Village to pay the costs of improving the System (the “Projectâ€); and
WHEREAS, the estimated costs of the Project, including legal, financial, bond discount, printing and publication costs and other expenses, are not less than $6,600,000 and there are insufficient funds on hand and lawfully available to pay such costs; and
WHEREAS, it is necessary and for the best interests of the Village that the Project be constructed and, in order to finance the costs of the Project it will be necessary for the Village to issue up to $6,600,000 of bonds payable from the revenues derived from the operation of the System as authorized to be issued at this time pursuant to Division 139 of Article 11 of the Code (the “Revenue Bondsâ€) or, in lieu thereof, up to $6,600,000 alternate bonds (the “Alternate Bondsâ€), being general obligation bonds payable from (i) the net revenues of the System and (ii) all collections distributed to the Village from those taxes imposed by the Village pursuant to the Non-Home Rule Municipal Retailers' Occupation Tax and Non-Home Rule Municipal Service Occupation Tax, as supplemented and amended from time to time (the “Pledged Revenuesâ€), as authorized to be issued at this time pursuant to the Local Government Debt Reform Act of the State of Illinois, as amended (the “Actâ€); and
WHEREAS, if the Pledged Revenues are insufficient to pay the Alternate Bonds, ad valorem property taxes upon all taxable property in the Village without limitation as to rate or amount are authorized to be extended to pay the principal of and interest on the Alternate Bonds:
NOW, THEREFORE, Be It Ordained by the President and Board of Trustees of the Village of Wauconda, Lake County, Illinois, as follows:
Section 1. Incorporation of Preambles. The Board hereby finds that all of the recitals contained in the preambles to this Ordinance are full, true and correct and does incorporate them into this Ordinance by this reference.
Section 2. Declaration of Intent. The Board hereby declares its intention to avail of the provisions of the Code and the Act and to issue the Revenue Bonds or, in lieu thereof, the Alternate Bonds in an aggregate principal amount not to exceed $6,600,000 for the purpose of paying a portion of the costs of the Project.
Section 3. Determination to Issue Bonds. It is necessary and in the best interests of the Village to construct the Project for the public health, safety and welfare, in accordance with the estimate of costs as hereinabove described, and that for the purpose of financing a portion of the costs thereof, there are hereby authorized to be issued and sold the Revenue Bonds in an aggregate principal amount not to exceed $6,600,000 or, in lieu thereof, the Alternate Bonds in an aggregate principal amount not to exceed $6,600,000.
Section 4. Publication. This Ordinance, together with a notice in the statutory form (the “Noticeâ€), shall be published once within ten (10) days after passage hereof by the Board in a newspaper of general circulation in the Village, and if no petition signed by 924 electors (being equal to ten percent (10%) of the number of registered voters in the Village) asking that the question of completing the Project, as provided in this Ordinance, and the issuance of the Revenue Bonds therefor be submitted to the electors of the Village is filed with the Village Clerk within thirty (30) days after the date of the publication of this Ordinance and the Notice, then the Revenue Bonds shall be authorized to be issued.
If no petition signed by 693 electors of the Village (being equal to the greater of (i) 7.5% of the registered voters in the Village or (ii) 200 of those registered voters or 15% of those registered voters, whichever is less) asking that the issuance of the Alternate Bonds be submitted to referendum is filed with the Village Clerk within thirty (30) days after the date of the publication of this Ordinance and the Notice, then the Alternate Bonds shall be authorized to be issued.
It is expressly provided that in the event that there shall be filed with the Village Clerk in a timely manner a petition, asking that the issuance of the Revenue Bonds be submitted to referendum, the Alternate Bonds shall not be authorized to be issued until such time as the issuance of the Revenue Bonds shall have been submitted to the electors of the Village and a majority of the votes cast on such question shall have been in favor thereof.
Section 5. Additional Ordinances. If no petition with respect to the issue of the Revenue Bonds or, in lieu thereof, the Alternate Bonds and meeting the requirements of applicable law is filed during the petition periods hereinabove referred to, then the Board may adopt additional ordinances or proceedings supplementing or amending this Ordinance providing for the issuance and sale of the Revenue Bonds or, in lieu thereof, the Alternate Bonds and prescribing all the details of the Revenue Bonds or, in lieu thereof, the Alternate Bonds, so long as the maximum aggregate principal amount of the Revenue Bonds or, in lieu thereof, the Alternate Bonds as set forth in this Ordinance is not exceeded and there is no material change in the Project. Such additional ordinances or proceedings shall in all instances become effective in accordance with applicable law. This Ordinance, together with such additional ordinances or proceedings, shall constitute complete authority for the issuance of the Revenue Bonds or, in lieu thereof, the Alternate Bonds, under applicable law.
Section 6. Reimbursement. With respect to expenditures for the Project paid (i) within the 60-day period ending on this date with respect to which no declaration of intent was previously made or (ii) on or after the date of this Ordinance, the Village hereby declares its intent to reimburse such expenditures and hereby allocates proceeds of the Revenue Bonds or the Alternate Bonds to reimburse said expenditures.
Section 7. Severability. If any section, paragraph, clause or provision of this Ordinance shall be held invalid, the invalidity of such section, paragraph, clause or provision shall not affect any of the other provisions of this Ordinance.
Section 8. Repealer. All ordinances, resolutions or orders, or parts thereof, in conflict with the provisions of this Ordinance are to the extent of such conflict hereby repealed.
ADOPTED by the President and Board of Trustees on January 20, 2026.
AYES: Tim Howe, Tom Shaw, Nicole Strauts, Sam Stein, David Geary
NAYS: None
ABSENT: Matthew Brown
APPROVED on January 20, 2026
/s/ Jeff A. Sode
President, Village of Wauconda,
Lake County, Illinois
PUBLISHED in the Daily Herald on January 26, 2026.
RECORDED in the Village Records on January 20, 2026.
ATTEST:
/s/ Virginia Radcliffe
Village Clerk, Village of Wauconda,
Lake County, Illinois
Published in Daily Herald Jan. 26, 2026 (319370), posted 01/26/2026
Posted Online 2 weeks ago
