McHenry County Bond Approval

By a vote of 19 YES, 2 NO and 1 abstention, The County of McHenry Board voted to APPROVE an ordinance authorizing the County to issue a $3,820,000 bond through the American Recovery & Reinvestment Act (Stimulus Bonds).  The balance of the money necessary to fund our dredging project will come from a Village of Wonder Lake bond in the amount of $2,110,000.
See PDF that includes estimates of the real estate property tax assessment on properties within the SSA Territory over the 20 year life of the bonds and includes the principle, interest and all fees necessary to put the funds in place.
Please note that the numbers illustrated in red represent information that was the basis for approval of the SSA in 2008.  The new numbers, based on the combination of a Stimulus Bond and a VWL bond totaling $5,930,000, represent an approximate 30% reduction in cost to owners of property located within the SSA territory.

McHenry County Assessment Summary (PDF)