Lost Valley Visitors Center is located in Glacial Park between Ringwood and Richmond.
When Moody’s downgraded the McHenry County Conservation District’s credit rating, I asked for a breakout of the outstanding $124.3 million debt.
Here it is:
- 2001 Referendum bond debt as of 3/31/14 = $51,342,993
- 2007 Referendum bond debt as of 3/31/14 = $72,997,007
- Non-referendum Bond debt as of 3/31/14 which was issued prior to 2001 = $8,625,000
Is that Principal only, or Principal and Interest.
Fiscal Year 2015 (FY 2015) Annual Budget.
April 1, 2014 – March 31, 2015
http://www.mccdistrict.org/web/documents/FY2015FinalwithOrd14-880redacted.pdf
6.4 Resolution Authorizing the Recommendation of Support for the McHenry County Conservation District Amendment to the Conservation District Act (70 ILCS 410) Through Senate Bill (SB) 3342
http://mchenrycountyil.iqm2.com/Citizens/Detail_LegiFile.aspx?Frame=&MeetingID=2589&MediaPosition=&ID=3127&CssClass=
They are in a cash crunch.
EAV is declining and bond proceeds (revenue) is declining.
There was a party going on when EAV was increasing 9% a year.
Parties don’t last forever.
“The conservation of natural resources is the fundamental problem. Unless we solve that problem, it will avail us little to solve all others.” – Theodore Roosevelt
Debt is principal, interest is tomorrow