Posted Online: Nov. 23, 2012, 11:11 pm
Atkinson village board approves making additional loan payments
Comment on this story
By Claudia Loucks firstname.lastname@example.org
ATKINSON — The village board Monday approved making an additional payment of $115,000 on the loan for West View Estates, for a total of $277,000 this year.
In August, the board voted to pay $100,000 in addition to its annual payment of $62,000, and left the option open to possibly pay more before the end of the year.
"With this extra payment, the principle on our loan should be down to about $340,000," Mayor August Junior said. "I believe it is to our advantage to continue paying down on our debt. I am in favor of paying down on the principle so we can save money on interest. Rather than pay money out in interest, we could use those dollars for other improvements in the village to keep taxes affordable."
In other business:
— Mayor Junior said he will seek re-election to a second four-year term as mayor. The terms of all trustees are up for re-election and include three four-year terms and three two-year terms.
— Petitions of candidacy are available at the village office and must be returned from Dec. 17-24. For more information, call the office at (309) 936-7658.
— Learned judging for the Christmas lighting contest will be Saturday, Dec. 15, and gift certificates of $50 for first place, and $25 for second and third places will be awarded.
— Adopted an ordinance that provides standards for hiring part-time police officers, which are guidelines set by the state of Illinois.