The fourth thrust of tax protesting attorney Tim Dwyer against Algonquin Township follows:
ALGONQUIN ROAD DISTRICT-EXCESSIVE ACCUMULATION
The District levied $10,170 for its Audit Fund, but had reserves of $81,042 in that Fund.
The District levied $35,545 for its Liability Insurance Fund, but had $162,891 in that Fund.
The District levied $71,068 for its Social Security Fund, but had $178,467 in that Fund.
The District levied $126,890 for its Retirement Fund, but had $232,279 in that Fund.
All of the aforesaid levies are illegal in that the District had more than twice the annual, three-year expenditures on hand when it adopted additional, unnecessary levies.
Additionally, the Road District has numerous line items where the levy amount exceeds the appropriation, and as such, are invalid as a matter of law.
With respect to the Road District, the Road and Bridge Fund, coupled with the Equipment and Building Fund, the Road District had reserves in excess of $5,500,000.
According to its own audit, the Township and the Road District have over 7 million dollars in unrestricted funds.
The annual expenses for the Road and Bridge Funds and the Equipment and Building Fund were approximately 2.4 million.
The tax revenue on hand was at least twice the amount of the annual expenditure.
As such, the Road and Bridge Fund, as well as the Equipment and Building Fund, are excessive, invalid and illegal.
Therefore, the entire levy rate of .191271 is excessive and illegal, and should be rebated back to the Objectors.
WHEREFORE, Plaintiff Tax Protestors pray that this Court consider the matters raised herein, find, determine and otherwise adjudicate that the Road District levy adopted by Algonquin Township on behalf of the Algonquin Road District is illegal, void and excessive as a matter of law, order that the McHenry County Treasurer issue full rebate payments to the Tax Objectors, award statutory interest pursuant to 35 ILCS 200/23-20, et. seq. and issue whatever further relief this Court deems just and appropriate.