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Village Management of Debt
The format in the PDF below resembles what you saw in a December article. This month, however, you’ll find information specifically related to borrowing and debt. Just as many individuals use borrowed funds as a way to finance a home, an education or an automobile, and just as most businesses use borrowed funds to finance growth and capital purchases, bodies of government also use borrowed funds to prepare for future needs, growth and large capital projects. In the Village budget, bonds are considered a funding source in each of the three areas: General Government, Enterprise Funds and Tax Incremental Districts. Each area incurs its own debt and pays it back through their own specific sources of income.

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