Opinion

Extending bond deadline bad idea

Posted September 07, 2010 11:00 pm

I would like to thank all the people who supported me in my vote as a senior member of the McHenry County Finance Committee on Aug. 24 that approved an ordinance to be sent to the county board for a final vote Sept. 7 to extend the deadline for issuing American Recovery and Investment Act "stimulus" bonds.

This was a poor decision on the part of the finance committee. If the two sports complexes and Wonder Lake dredging projects fall through, there will not be enough time for a qualified user of this funding mechanism to issue bonds that would benefit McHenry County as a whole.

A newsletter from a private interest group has inferred that because I live in Wonder Lake, and that it might save the landowners $1.2 million in interest costs over the life of the bonds, I should have voted for it.

But that would be putting personal interests over the good of the county and the district - something you can be assured I have never done and will never do. If they attempt to vilify me, I will take it as a badge of courage.

John D. Hammerand

McHenry County Board

Wonder Lake

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