Orland OKs dog park deal
BY MIKE NOLAN firstname.lastname@example.org August 20, 2012 9:02PM
Updated: September 23, 2012 6:08AM
Orland Park trustees on Monday approved an agreement with Orland Township under which the village and the township will share in the cost of building a dog park.
Adjacent parks — one for small dogs and the other for larger ones — would be built next to Lake Sedgewick at Centennial Park, 15600 West Ave. Work on the parks could begin next spring.
The project is estimated to cost $200,000.
Under the agreement, the township would cover half the cost of building and equipping the parks, with its portion not to exceed $100,000. Township officials still have to approve the cost-sharing agreement.
Spread over three acres, the parks would be fenced, provide access to drinking water and shade, and contain agility equipment and benches, according to the village.
Also on Monday, trustees approved refinancing a 2006 bond issue that will save the village more than $832,000 in interest payments over the remaining life of the bonds. The bonds were sold to help finance construction of the village’s police station and will be retired in 2025.
Eight firms took part in an online bidding process that was held Monday, and the new issue will carry a lower interest rate.
Taking advantage of lower rates for municipal bonds, the village, by refinancing higher-interest bonds, has been able to realize $3.3 million in savings, said Annmarie Mampe, the village’s finance director. She said Orland has refinanced four bond issues — including the one approved Monday — since 2009.