Fox Lake Common Council Approves Annexation, Refinancing

(Fox Lake) The Fox Lake Common Council Wednesday night unanimously approved the refinancing of $316-thousand dollars in general obligation bonds dating back to September 2008. City Administrator Dean Perlick says the refinance will save the city $24-thousand dollars over ten years with an interest rate of four-percent.

Fox Lake city officials also unanimously approved the annexation of land from the town of Fox Lake.  The land in question is a section of Mill Street that had been mistakenly listed as being within the township. Mayor Tom Bednarek says the section of Mill Street in question was already being maintained by the city but will now be officially listed as being within the boundaries of the city of Fox Lake, with the amended ordinance being the proper legal way to correct the mistake.