New Lenox Park District Secures $698,256 Bond Issue at 3.1% Interest Rate, Receives Moody’s Rating Upgrade

New Lenox Community Park District Board of Commissioners Meeting | January 21, 2026

Article Summary:
The New Lenox Community Park District Board of Commissioners officially authorized a $698,256 General Obligation Limited Tax Park Bond to fund ongoing land acquisition, facility improvements, and park protections. The district also secured a highly competitive 3.1% interest rate and an upgraded credit rating from Moody’s without incurring additional fees.

New Lenox Park District Financial Key Points:

• Ordinance #26-01-01 was unanimously passed to issue approximately $698,256 in General Obligation Limited Tax Park Bonds, Series 2026.

• Old Plank Trail Community Bank secured the winning bid with a 3.1% net interest cost.

• Director of Business Services Jason Braglia announced an impending rating increase from Moody’s following a successful financial review.

• The bonds will officially be issued on February 4, 2026, with a final maturity date of December 15, 2028.

The New Lenox Community Park District Board of Commissioners on Wednesday, January 21, 2026, voted unanimously to lock in funding for extensive park improvements while celebrating a major credit rating upgrade that underscores the district’s fiscal health.

The Board passed Ordinance #26-01-01, which officially provides for the issuance of approximately $698,256 in General Obligation Limited Tax Park Bonds, Series 2026. According to the legislative text, the funds are dedicated to the payment of land condemned or purchased for parks, as well as the building, maintaining, improving, and protecting of existing land and facilities. The ordinance also provides for the levy of a direct annual tax to pay the principal and interest on the bonds.

Aaron Gold, a representative from Speer Financial, presented the results of the district’s bond sale to the Board as a special guest. Gold highlighted the competitive nature of the bids received, announcing that Old Plank Trail Community Bank submitted the winning bid at a highly favorable 3.1% net interest cost. He noted the bonds will be issued on February 4, 2026, with a final maturity scheduled for December 15, 2028.

The favorable interest rate coincided with positive evaluations from independent credit rating agencies. Director of Business Services Jason Braglia reported to the Board that he, Executive Director Greg Lewis, and Aaron Gold recently met with representatives from Moody’s.

Braglia stated that the meeting “went very well” and announced that the district will be receiving an increase in its credit rating. He specifically noted that there will be no cost to the district to secure the rate increase.

The financial updates were met with enthusiasm from the Board. Commissioner Ott praised the administrative team’s handling of the district’s capital.

“With receiving this increase, it just shows the strength of the district when it comes to our financials,” Commissioner Ott stated during the meeting.

The passage of the bond authorization ordinance was approved via a unanimous roll call vote following a motion by Commissioner Ott and a second by Commissioner Fischer.