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Grafton Township may vote to cancel loan for township hall building

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July 7, 2009

GRAFTON TOWNSHIP, Illinois: The Grafton Township board is set to vote on whether to cancel the bank loan that was supposed to be used to fund a new $3.5 million township hall. Township officials said Harris Bank has offered to let the township out of its loan agreement if the township returns the $3.5 million and pays about $141,600 in interest. Cancelling the bank loan would allow the township to stop incurring interest payments while litigation is pending.[1]

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