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III — Public hearing on not-to-exceed $700,000 Series 2026 bonds

The agenda calls for a public hearing on a plan to issue up to $700,000 in General Obligation Limited Tax Park Bonds, Series 2026. Pages 3–4 provide a proposed hearing record and script under Sections 10 and 20 of the Bond Issue Notification Act. It says notice was published August 17, 2026, and describes three possible uses:

The template says the bonds would be general obligations payable from the debt-service extension base, other lawfully available District funds, and annual appropriations. It leaves public comments and the hearing’s closing time blank.

Decision point: The Board is scheduled to conduct the hearing and receive views for or against the financing plan. The packet does not place bond issuance, a bond ordinance, a final amount, or sale terms before the Board for approval at this meeting.

• debt service on the District’s Series 2017, Series 2023, and Series 2024A obligations;
• park land acquisition and the building, maintenance, improvement, or protection of District land and facilities; and
• issuance costs.

VIII.A — August expenditures

The Expenditures Approval Report ends on packet page 21 with 104 transactions and a $241,478.04 grand total, amount paid of $241,478.04, zero balance, and zero discount.

The separately presented credit-card and utility schedule totals $20,920.39:

Payroll support shows total liabilities of $132,506.49 for the August 7 check date and $105,846.10 for August 21. These supporting values are not summed with the report’s stated grand total.

Decision point: The Board may approve the already-incurred August expenditure report. This is Park District financial oversight, not City spending.

• ComEd: $673.86
• Nicor Gas: $6,309.07
• Visa: $13,937.46

IX.C — Turtle Splash filter-renovation recommendation

The Parks report says five companies bid on the Turtle Splash Filter Renovation Project and recommends Crossroads Construction Inc. It anticipates late-fall through winter construction so the filtration system is ready for the next pool season.

The report says a bid tabulation will be included, but no separate tabulation or amount appears elsewhere in the 60-page packet. Item IX.C is only `Superintendent of Parks`; it is not labeled discussion, possible motion, or contract award.

Decision point: The report supports describing a staff recommendation for future Board consideration. It does not support claiming that a contract award is scheduled or approved, and the absent amount must not be guessed.

IX.D — Finance, debt, compliance, and operating results

The Finance report states that the Corporate and Recreation Funds had first-three-month operating surpluses of $459,220 and $281,120, respectively, while cautioning that these are period operating results rather than cumulative fund net position and must be considered with reserves. It reports a 3% year-over-year decline in the Corporate Fund surplus and a decline of more than 50% in the Recreation Fund surplus.

The annual financial-audit fieldwork occurred August 3–5, with the final FY 2025/2026 audit still pending. S&P performed periodic surveillance of outstanding debt and was reviewing whether the District maintained its `A+` underlying rating. The IMRF employer-compliance review concluded with no findings and no recommendations. The report also states that investing 2023 bond proceeds produced $231,675 in interest income over three years.

Decision point: Item IX.D is receipt and review of financial and compliance information. No acceptance, appropriation, investment authorization, or other vote is stated on the agenda.