County Thought It Had Paid Off $8.3 Million (Plus Interest) to Build Administrative Center, But Overlooked Last $417,000 Payment
A $417,000 “oops” will be considered by the McHenry County Board on February 15th.
The McHenry County Board constructed its new administrative building across the road from the jail, borrowing over $8 million without voter approval.
The finance folks thought that amount, plus interest, had been paid off, so budgeted zero for this year.
But, there was another payment due of $417,174.57.
Three days after it was due, the Bank of New York apparently contacted the county about the delinquency.
The payment was expeditiously paid.
Tuesday, the County Board will pass a resolution providing the paperwork for that final payment of the non-referendum borrowing.