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City Council approves bond issue for Armstrong Avenue project financing

The Glencoe City Council approved the bond resolution for the 2016 Armstrong Avenue project at its regular meeting Monday night. 
 
Paul Donna of R.W. Baird presented the bond to the council. The total interest rate is 2.29 percent with a total cost of $4,025,000.
 
Donna explained the rate was a little higher because the market has been going up and down a lot recently. 
 
The bond was approved 4-1, with Council Member Allen Robeck voting no. 
 
The council also heard an update on the Armstrong Avenue project from Public Works Director Gary Schreifels. He explained crews are currently working on Lindbergh Trail. 
 
Work on Seventh Street will probably begin on Thursday or Friday of this week, Schreifels said. At this time, Seventh Street will be closed indefinitely. 
 
For more see the May 4 print edition of The Chronicle.