Lake Zurich issued $4 million in general obligation bonds for improvements to its aging underground infrastructure.
Last month, the village authorized the bonds and obtained an interest rate of 2.37 percent. The bonds will fund numerous projects scheduled over the next few years, according to a village release.
A project moving ahead this budget year is water main replacements on Pine Avenue, Elm Place and Ela Roads.
A $350,000 grant from the Department of Commerce and Economic Opportunity is funding part of the project. Lake Zurich budgeted $500,00 for the installation of 1,400 feet of water main improvements, the release stated.
Village staff expects the project will come in $50,000 under budget.