https://www.rblandmark.com/2026/10/22/public-safety-rebuild-48m-bond-interest/
Riverside’s project to rebuild its inadequate combined police and fire facilities could cost the village up to $48 million over the course of 20 years as Riverside pays interest on $29.9 million in bonds it needs voter approval to issue. Finance Director Mary Emmanuel on Thursday, Oct. 15, told trustees that a “high-end estimate” of 5% interest on the bonds would see the village paying back $18 million in interest over the 20-year lifetime of the debt. This figure has already been factored into the village’s online calculator breaking down a homeowner’s monthly and annual tax burden
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Riverside’s project to rebuild its inadequate combined police and fire facilities could cost the village up to $48 million over the course of 20 years as Riverside pays interest on $29.9 million in bonds it needs voter approval to issue. Finance Director Mary Emmanuel on Thursday, Oct. 15, told trustees that a “high-end estimate” of 5% interest on the bonds would see the village paying back $18 million in interest over the 20-year lifetime of the debt. This figure has already been factored into the village’s online calculator breaking down a homeowner’s monthly and annual tax burden
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