David McSweeney Passes Bill to Ease Obstacles to Referendums Boards Want to Issue Without Asking Voters

State Rep. David McSweeney passed his House Bill 383 yesterday by a vote of  101-6-2. Here’s the amended version of the bill: Amends the Local Government Debt Reform Act. In a Section concerning alternate bonds, provides that, in governmental units … Continue reading

MCC Board Candidate Tom Wilbeck Holding Reception

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

McSweeney and Franks Make Chicago Tribune with Alternative Bond Reform Bill

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

Lakewood Red(Ink)Tail Golf Club Alternative Revenue Bond Failure Featured in Chicago Tribune – Part 2

Part 2 of the Chicago Tribune said about Lakewood’s alternative revenue bond purchase of what is not called RedTail Golf Club: Lakewood is featured as one of the villages “where bets backfired on taxpayers…where taxpayers should have been protected form … Continue reading

Lakewood Red(Ink)Tail Golf Club Alternative Revenue Bond Failure Featured in Chicago Tribune – Part 1

On January 6, 2013, right on the top of the Sunday Chicago Tribune, there was an expose that should send warning flares up about the alternative revenue bonds that the majority of the McHenry County College Board seem set to … Continue reading

McSweeney and Franks Send Shot Across McHenry County College’s Bow

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

Health Club at Moraine Valley & McHenry County Community Colleges Could Tap Faculty Salaries

I’m looking at the alternative revenue bond statement approved by bond counsel Chapman and Cutler. How does the document say they will be paid off? “…payable from the construction/infrastructure improvement fee imposed upon students of the District (the “Improvement Fee”), … Continue reading

A Critique of McHenry County College’s $42 Million Health Club Expansion Plan – Part 4

This is a continuation of Stephen Willson’s critique of the $42 million health club/classroom expansion proposed by the McHenry County College Board. Proposition 7: The program won’t raise tuition or property taxes. Response: False. The program will raise both tuition … Continue reading

Lakewood Votes to Sell $8.5 Million in Non-Referendum Bonds, Sewer and Water Rates Still To Increase 8%

The average water and sewer bill on the west side of Lakewood is $1,200 a year. By 4-3, the Lakewood Village Board gave first approval to issuance of up to $8.5 million in revenue bonds which the board majority clearly … Continue reading

Lakewood Village Board to Sell Non-Referendum Bonds

At tonight’s 7 PM Lakewood Village Board meeting, the following is on the agenda: Motion to Approve Ordinance 2010-(04) – An Ordinance Authorizing the Issuance of up to $8,550,000 Waterworks and Sewerage Revenue Bonds (Sales Taxes and Revenue Sharing Receipts … Continue reading