The Burr Ridge Village Board is to meet Tuesday to discuss the price of water.
The village currently gets its water from the Justice-Willow Springs Water Commission, but has decided to ask voters in November to approve a $6 million bond issue for the construction of a water main to link the town with Bedford Park lines in hopes of saving money and improving water service.
Construction of the new water main and other improvements is scheduled to be completed by late next spring. Village administrator Steven Stricker said property tax dollars would be used to help pay off the bond issue if it is approved, but village officials hope to keep the tax impact on property owners to a minimum.
The village is three years away from retiring a previous bond issue, and plans to keep the rate being paid for that issue on property tax bills–if voters say yes in the referendum–to pay for the new bonds.
While waiting for the old bond issue to expire, the village may use water fund revenues to pay for the new bonds in the first couple of years, Stricker said.
If voters reject the bond issue in November, the entire cost of the project would be paid for using water fees, Stricker said.
