Board to Vote on Legal Settlement, Bond Sale

Trustees are slated to meet at 6 p.m. Wednesday at village hall to vote on a request to loan Lewis University $28 million in revenue bond sale proceeds to help pay for improvements at the Romeoville university.

Board members will vote on whether to approve a resolution to sell $28 million in bonds and lend the proceeds “for the purposes of (a) financing, refinancing  or reimbursing  the University  for the costs of acquiring, constructing, renovating and equipping certain  of its educational facilities located within the jurisdiction of the village.”

Legal settlement

Trustees will also vote on whether the village will settle in a $43,000 lawsuit filed by a Missouri-based company in November 2010.

PlayPower LT Farmington filed a claim against the village’s parks and recreation department, saying the village owes $43,000 for specially fabricated park and playground equipment the company provided to Continental Consturction Company for Nottingham Ridge Park on Ferndale Avenue.

Under the proposed settlement, the village would agree to pay $35,000 in exchange for the company’s pledge to drop the suit, filed in Will County court more than a year ago.