$2.7 million Park District Issued Bonds for Bathrooms and…?

After taxpayers approved the re-acquisition of the old McDonald’s soccer fields for $17 million, the Park District built expensive structures on the lot across from the post office. In April 2023, the Park District issued $2.7 million in general obligation bonds to build bathrooms, concession stand, amphitheater, basketball and bocci courts. Were taxpayers aware of this spending and that interest due on debt must be paid every year?

Over the remaining life of the bonds, taxpayers will pay $1.4 million in interest. Yet, the Park District has $10 million in the bank – why not use some of that cash to pay down the debt?