City of Lincoln General Obligation Bonds for Capital Improvements

The City of Lincoln, Logan County, Illinois, intends to issue general obligation bonds, in one or more series, with an aggregate principal amount not to exceed $8,250,000. These bonds will bear interest at the maximum rate authorized by law at the time of sale. The proceeds from the Bonds will be used to finance various capital-related items within the City, primarily focusing on street improvements, and to cover certain costs associated with the issuance of the Bonds. The Bonds will be payable from collections of Retailer's Occupation Taxes, Service Occupation Taxes, Use Taxes, Service Use Taxes, the City's distributive share of State income taxes, and ad valorem property taxes. A public hearing on the proposed bond issuance is scheduled for April 20, 2026, at 6:00 p.m. in the City Hall Building at 700 Broadway Street, Lincoln, Illinois. The City will accept public comments on the proposal during this hearing. If a petition signed by 628 or more registered voters is submitted within 30 days of the publication of the notice and ordinance, the question of issuing the Bonds will be put to a referendum on November 3, 2026. Otherwise, the Bonds will be authorized for issuance.