Has Boone County officials even discussed what it will do with its ARRA funds?
Board members [of McHenry County] voted, 13-8 with two abstentions, to allocate the bonds and allow the mental health board to use some of the $4 million to reimburse for expenses incurred to date planning for the expansion
McHenry County received $45.8 million in federal bonding authority under the American Reinvestment and Recovery Act (ARRA) to jump-start shovel-ready projects. The bonds are supposed to encourage lending by giving investors a 45 percent refund of the federal taxes payable on them, which in turn lowers interest rates.
The mental health board request represented the last of the $18.3 million in bonding authority for government agencies. The remaining $27.5 million must be used for private-sector projects
Click on the following for the rest of the story: Northwest Herald | Mental Health Board bonds OK’d
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