The Rantoul Board of Trustees last week passed an ordinance waiving its right to pay its bond obligations using the village's tax levy.
The village entered into a bond agreement in 2007 and is expected to pay off its bond debt by the end of next year. The trustees said it has enough money to pay its bond debts through 2016 using money from its Debt Service Fund.
The current payment due, including interest, is $161,200.
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