Bittersweet asks village for help with debt

Gurnee Review (IL) | February 25, 1999| | Copyright

STAFF WRITER

The venture company that manages Bittersweet Golf Course wants Gurnee to issue $7.5 million in revenue bonds to refinance the $4.25 million debt the entrepreneurs claim is choking off the facility's profits.

The golf course profits would be used to pay off the bonds, which would be issued for a 20-year period under the proposal presented at Monday's Committee of the Whole meeting. The current bonds are supposed to be repaid by 2006.

But some residents are wary of issuing such a large amount of money on a fledgling course, recently plagued by money problems and bad publicity.

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