Freeburg Park District Special Meeting Minutes October 2025
Park District Approves $225,400 Loan for Lighting
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Description
The Freeburg Park District Board approved Ordinance 2025-01 to borrow $225,400 from Citizens Community Bank for two years to fund lighting system upgrades on the park ball diamonds. The final promissory note will be reviewed by legal counsel and is expected to include no pre-payment penalty and a negotiated interest rate.
Contract Details
Contract Amount
$225,400
Vendor
CITIZENS COMMUNITY BANK
Agency
Freeburg Park District, IL
Contract Type
FINANCIAL_SERVICES
Document Date
October 13, 2025
Contract Term
2 years
Renewal Info
Two-year bank loan authorized by ordinance; no renewal terms mentioned. Board accountant requested no pre-payment penalty and a reasonable interest rate.
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