Lakewood Creek Bond Refunding To Save Homeowners Money

MONTGOMERY, IL — Montgomery Village President Matt Brolley and the Montgomery Village Board are happy to announce the successful refunding of the Lakewood Creek Special Assessment bonds that will result in significant cost savings to affected home owners.

The 2018 Lakewood Creek Special Assessment bonds were sold on Thursday, Jan 17=8. The Village received an incredible response to these bonds and will save over $1,726,000 as a result. This equates to a cost reduction of $144,000 annually and savings of $210 per house per year. This refinancing keeps the same maturity date of March 1, 2030.

President Brolley explained, “The Lakewood Creek subdivision is the only subdivision in Montgomery that has a special assessment, and we are very happy that this recent refunding will result in significantly lower payments for our homeowners there. This is a great example of the Village being proactive in looking out for its residents and reducing costs whenever possible.”

Submitted by the Village of Montgomery