To finance its new hospital in Huntley and renovate other facilities, Centegra Health Systems is getting ready to borrow $134,715,000 through the Illinois Finance Authority. As is customary when large bond issues are proposed, financial rating services off opinions. Fitch … Continue reading
The driving force behind several successful candidacies for the McHenry County College Board last spring were referred to in shorthand as the “Health Club.” The cost was to be in the neighborhood of $42 million. The general proposal was that … Continue reading
A press release from State Rep. David McSweeney about a bill to make it tougher for tax districts to issue bonds without a referendum. It was inspired by McHenry County College’s consideration of issuing non-referendum bonds to build a health … Continue reading
Not only does the McHenry area have a ten cents per $100 of assessed value referendum on the ballot to create a new countywide taxing district the $9 million proceeds (first year’s estimate tax take) of which will go to … Continue reading
Eight of the nine candidates for the McHenry County Board showed up to face a small fraction of the public at the MCC auditorium Monday night. There were Scott Alford Chris Jenner Carol Larson Erik Sivertsen Mike Smith Molly Walsh … Continue reading
For $35 you can meet and mingle with those who support Lakewood’s Tom Wilbeck for McHenry County College Board. On his invitation, Wilbeck stresses, “Tom is opposed to MCC issuing bonds for expansion without voter approval.” The event will be … Continue reading
David McSweeney knows how to pick ’em. And Jack Franks has been a master of gaining publicity for virtually his entire 14-year legislative career. McSweeney came up with the idea to reform the alternative revenue bond process and had a … Continue reading
Interpret this press release as you wish, but I think the bill is aimed at McHenry County College. It could be aimed at abuses in Lakewood from over twenty years ago when the Village Board sold alternative revenue bonds to … Continue reading
The Illinois Finance Authority sold tax exempt bonds for the Leaf’s Hockey Club in West Dundee in 2007. Almost $20 million worth “with no equity at risk,” reports Crane’s Chicago Business. In this case, the bondholders are left holding the … Continue reading
Here is a press release explaining the successful conclusion–from a taxpayer’s point of view–of a suit to stop taxeating local governments from promoting their tax increase referendums. Although it did not originate in McHenry County, it will affect school districts, … Continue reading
Taxpayers in Island Lake are passing petitions to force a vote on whether the Village Board can sell bonds to build a new village hall, One of them is Jot Ptak, who ran unsuccessfully ran for the Village Board in … Continue reading
As the McHenry County College Board and a majority of the Crystal Lake City Council learned, most people don’t think their tax dollars should be used to prop up those wanting to build sports stadiums. Now, Crain’s Chicago Business has … Continue reading
McHenry County College has $2.2 million in outstanding bonds, issued apparently without a referendum, for which interest higher than market rate is being paid. The Board is scheduled to refinance them at Thursday’s meeting and save 2.5 percentage points, as … Continue reading
A press release from State Comptroller Judy Baar Topinka: TOPINKA TO BOND HOLDERS: ILLINOIS IN NO DANGER OF MISSING PAYMENTS Comptroller responds to Moody’s announcement SPRINGFIELD– Illinois Comptroller Judy Baar Topinka on Friday released the following statement in response to … Continue reading
No initiation fees. That’s what the post card I got today at my non-Turnberry Lakewood home said. Just spend $355 a a month, if you join on your own, or $580 a month for the whole family. Tennis courts included, … Continue reading
“This plan is nothing more than paying a credit card with another credit card,” observes State Sen. Dan Duffy in a criticism today in Springfield of Pat Quinn’s proposal to borrow over $8 billion. “The governor is addicted to borrowing, … Continue reading
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 … Continue reading
The McHenry County Board’s Finance Committee decided to award millions of dollars of Federal Stimulus Bond authority on a “first come, first served” basis. The first two private entities in line were sports related. One was Mark Houser’s EquityOne’s baseball … Continue reading
In Qi GU’s Daily Herald’s story about the appointment of appointment of Vicky Smith as McHenry County College’s new president appears the following sentence: “She will focus on the expansion of facilities and academic programs, especially in health care and … Continue reading
A week ago, I published an article Legislators Dissing Voters about the passage of Senate Bill 3010, a bill that took away the power to approve new township halls and senior centers at the ballot box. As I, a non-lawyer … Continue reading
