Friday, April 23, 2010

Amcore News from The Associated Press: FDIC loses $220 million on Amcore

 

Chicago-based Harris National Association agreed to acquire Amcore Bank's deposits….The failure of AMCORE is expected to cost the FDIC's deposit insurance fund … $220.3 million;

 

Click on the following for details about other bank failures:  News from The Associated Press

Feds seize AMCORE; Chicago’s Harris takes over - - BusinessRockford.com

image Federal regulators seized AMCORE Bank at 6 p.m. today and announced that Chicago-based Harris N.A. has taken it over.

  • AMCORE ATM/debit cards will continue to work as normal, Schmalzer said. Same goes for direct deposit and social security payments.
  • FDIC's Schmalzer reassured customers that total balances have been transferred to Harris Bank and will be available without disruption.
  • Click on the following for more details:  Feds seize AMCORE; Chicago’s Harris takes over - - BusinessRockford.com

    Belgian Bishop Quits Over Sex Abuse

    This article supplies a good update of Vatican sex abuse cases in Europe.

    The longest-serving bishop in Belgium resigned Friday after admitting to sexually abusing “a young man in my close entourage” many years ago, becoming the latest cleric to quit in a spreading abuse scandal.

    Belgian Bishop Quits Over Sex Abuse - NYTimes.com

    Interesting Articles from 4-23-2010 Boone County Journal

    This is currently available on line at:  http://boonecountyjournal.com/news/2010/Boone-County-News-04-23-10.pdf#page=3  This address maybe changing in the coming week. 

    Alderman Racz Voices Concerns about Operation
    of 911 Center
     

    By Rebecca Osterberg
    Belvidere Alderman Andy Racz (Ward 1) had many
    questions for the communities-shared Emergency Telephone
    System Board (ETSB), or 911 board. In recent weeks he
    has not been afraid to share his questions in a very public
    manner.
    At the April meeting of the Belvidere and Boone County
    City/County Coordinating Committee, Racz brought his
    questions to the attention of everyone who would listen.
    Racz’s concerns stem from his angst over the lack of
    security cameras and other measures he feels would provide
    a safer environment at the city/county Public Safety Building
    (PSB). But, his questions suggest a much broader concern;
    government transparency.
    That transparency is of concern to many government
    officials, but some argue that transparency may come at a
    price, including the security of employees and residents. In
    light of these ideas, recent efforts to improve transparency
    have included aggressive adjustments to the Freedom of
    Information Act legislation.
    The ETSB is similar to the board of the Boone County
    Department of Public Health, Council on Aging and others,
    in that they operate independently of, but are answerable to,
    the city and or county and one or more members of city or
    county government serves by statute, on their boards.
    Racz recently asked a series of questions, which he
    handed out in writing to both officials and the public on
    March 10 and followed by an even longer list he distributed
    on April 14.
    “What I am most concerned about is opening up
    communications with the 911 board,” said Racz. “Those first
    six questions were about opening up those communications.
    They’ve done many good things for the community and the
    services they provide. But...”
    Racz questioned the makeup of the board, where their
    minutes are kept and when and if they are published, whether
    or not the body has a budget, how much money they have
    collected via a telephone surcharge on land lines and cell
    phones, and to whom the board answers.
    In response to one of Racz’s concerns involving the
    makeup of the board, county legilators voted to place
    county Representative Danny Anderson (District 1) on the
    E911 board.
    Answering Racz’s questions on April 14, Lt. Perry Gay,
    who manages the PSB and the 911 call center, noted he had
    already attended several meetings with Racz where he had
    already answered all of those he was aware of.
    Gay explained that the ETSB meetings are public and
    anyone is welcome to attend. He also told the committee
    that the ETSB budget is seperate from that of the Boone
    County Sheriff’s Department and the city. “It is independent
    due to the referenedum Public Safety Sales Tax and as such
    has its own budget,” said Gay. “We are trying to follow
    suit with other counties with $500,000 to one million. We
    need to build the next generation 911 system. There’s no
    requirement to have a budget.”
    Racz noted that the board answers to the Illinois State
    Commerce Commission. “Where does that come into
    play?” asked Racz.
    Boone County Sheriff Duane Wirth noted the success
    of the ETSB while they have continued to operate by only
    charging .60 cents a month. “There are other counties who
    charge over a dollar for doing the same work that we’ve
    done,” said Wirth.
    “I’m not talking about anyone having done anything
    right or wrong,” said county Representative Pat Mattison
    (District 3). “I am talking about transparency. It may not be
    legally required, but it would be smart if we do it.”
    Belvidere Alderman Mike Chamberlain (Ward 3) was
    concerned with problems posed by overexposure. “When
    you look at it there is a certain amount of nontransparency,”
    said Chamberlain. “That is to protect the privacy and
    functioning of what goes on and through that system. While
    I applaud anyone who wants to go through this meeting, I in
    no way want to support some kind of a witch hunt that they
    aren’t spending their monies properly. I’d rather hear that
    they have used a certain amount of money.”
    “There are certain items that are exempt from public
    disclosure,” said Gay. “We don’t have a budget because
    there are things we are required to do by the PTSB.” Gay
    detailed several projects in which the board has come through
    with hundreds of thousands of dollars for various projects,
    including the latest Motorola StarTac radio communications
    system.
    The new system and programs came about after the
    September 11 attack on the World Trade Center in New
    York, when law enforcement and public safety officials
    found themselves unable to communicate after a massive
    system failure. The new radios enable communication
    with multiple emergency management agencies and brings
    Belvidere and Boone County in line with the rest of the
    country.
    Racz continued that some of his concerns were basic,
    including the idenity of board members, term limits and
    other issues.
    “These are not state secrets,” said Racz. “How is the
    911 board going to communicate with the public? You know
    priorities change but if you have a list to work off of people
    can give you support. You can push forward and get things
    done.”
    Racz last question revealed his main point; the safety of
    the current 911 call center.
    “When I read the last statement...I hope you would be
    concerned with what those things are,” said Racz. “You
    need to have better communications with the public so we
    can have better security. The job of an intergovernmental
    committee is to report to both bodies that support them.
    The minutes of their meetings should be forwarded to the
    city/county committee each month. You know what you
    have to do under the law. That’s fine. But when I read how
    much there is in that account. We raised the money for an
    architect to look at the building [for improvements].”
    Gay indicated that there are strict rules as to what the
    ETSB money can be used for. “As far as the expenditures
    of money, I’ve worked very hard on this,” Gay said.
    “The money can only be used for things that are directly
    responsible for receiveing and directing incoming 911
    calls. If you’re going to pay an architect $30,000 to design
    something, of course we would be on board with you and
    pay part of it. We never got a public safety tax passed so the
    whole thing was mute I thought.”
    Gay also said the current money held in the ETSB
    account is a “drop in the bucket” when compared to the
    cost of some of the projects and tasks the board is charged
    with completing. “A number of the things that you appear
    critical of the 911 center we can’t do. I am the one who
    brought forward the safety of the building, not the sheriff.”
    Racz has called often for a “reverse 911” setup at the
    call center.
    Gay has just as relentlessly explained that it can’t be
    done. “Unless the law is changed we can’t do a reverse
    911,” said Gay, since the system would not directly impact
    the intended use of the 911 call center.
    One complication of funding was also explained.
    “The surcharge on wireless phones if it is 847 or 800 or
    other county [area codes]; the surcharge does not come to
    us, it goes to that county,” said Gay. “On top of that, the
    [surcharge] expires in 2013.”
    Chamberlain noted that many people have recently
    chosen to do away with their land lines and go exclusively
    with cell phones. “That is a major loss of revenue so they
    need the banked money they have,” said Chamberlain.
    Racz noted for the record...the ETSB funded radio
    communications, a Starcom console at PSB, Oct. 2007.
    “They gave us $8,000 to move the pipes [in the PSB] and
    I’m sure there are other things they have done that the
    public is not aware of. It is important that they know, OK?
    We’ll count on your good sense and willingness to talk
    openly. Perry

     

    Poplar Grove Debates Growth Dimensions Grant
    By Bob Balgemann
    It didn’t take the Poplar Grove Village Board long on
    April 12 to give tentative approval to its 2010-11 Budget.
    The balanced spending plan, including the general fund
    and the water and sewer fund, totals about $2.2 million and
    includes two new taxes plus a 10 percent increase in the
    water and sewer rate.
    The budget will be on display at the village’s website,
    www.poplargroveonline.us, until the public hearing
    scheduled for 6 p.m. Monday, April 26. A special village
    board meeting will follow, when trustees will give final
    approval to the budget, which goes into effect May 1.
    While the budget received preliminary approval without
    any fanfare, trustees debated whether to renew the village’s
    membership with Growth Dimensions, at a cost of $3,000.
    Trustee Kris Campbell didn’t think it was a wise
    expenditure of Poplar Grove’s limited revenue. “What will
    they do to help us?’’ he asked, before recommending that a
    lesser amount be approved.
    Support for the economic development organization
    came from Village President Bradley Rightnowar, who
    posed a question and then answered it.
    “Do we see direct benefits from Growth Dimensions?’’
    he asked. “No,’’ he replied, “but Growth Dimensions acts as
    a lobbying arm for this area with the (state) Legislature. We
    use it as a resource for grants.’’
    Campbell countered, “It seems this is a discretionary
    expense and we’re not getting any direct benefit from it.’’
    “Economic development is a complicated function,’’
    Rightnowar said. “I wish Growth Dimensions did a better job
    of coming to this body and explaining why it is relevant.’’
    The village Finance Committee, which recommended
    paying the $3,000 membership fee, said it wanted an official
    of the organization, such as board member or even the
    president, Richard Van Evera, to appear before the village
    board and provide an update. But that recommendation
    wasn’t given to the village board Monday night so no
    follow-up action was taken.
    Trustee Ron Quimby also supported being part of Growth
    Dimensions. “Small communities like this one don’t have a
    lobbying arm to go after businesses,’’ he said. “We can’t
    go to all the meetings; we can’t meet with all the people
    looking to come to the area.’’
    Campbell said finally that he would support a decreased
    contribution to Growth Dimensions, not the full amount.
    The Finance Committee’s chairman, Trustee Robert Fry,
    said members “really struggled with this. But if we’re not
    at the table they’ll recommend companies to whoever pays
    their salary.’’
    “Maybe that’s why we don’t get much,’’ Campbell
    interjected.
    But Rightnowar said Poplar Grove “will become a player
    as we grow. We need to have a place at the table, we do.’’
    Payment of the fee was approved, 5-1, with Campbell
    dissenting.
    All of the discussion was moot to an extent because
    Village Treasurer Maria Forrest said the bill had been paid
    last week.
    Details About the Budget
    Fry provided the handful of residents in the audience
    with highlights of the 2010-11 Budget, such as the new
    telecommunications and utility taxes, which will be assessed
    starting this summer and generate about $220,000 a year.
    The water and sewer rate increase, on top of the 9
    percent hike imposed last year, will bring in an additional
    $100,000.
    Residents will receive less police protection next year
    because the contract for additional hours with Boone County
    Sheriff Duane Wirth is being halved, to $80,000.
    Officials are continuing to prepare a referendum for the
    November 2 general election ballot, which will ask residents
    how they want to pay for the extra hours of police patrol.
    Rightnowar reiterated that the general fund no longer can
    afford to pay for coverage above the basic patrol, which
    Wirth is obligated by state law to provide.
    The general fund will have a surplus of about $4,000
    when the new fiscal year ends April 30, 2011. That’s down
    from an original estimate of $100,000 because the village
    was forced to take out a $150,000 tax anticipation loan to
    pay expenses through the end of the current fiscal year. That
    loan must be paid off by October 2011.
    Beyond that, Trustee Cliff Stetter, a member of the
    Finance Committee, said 40 percent of the village’s water
    and sewer fund budget is going to pay off some of the
    $11 million worth of bonds, sold over the years to finance
    a variety of projects such as road improvements and new
    village hall.

    Incorporation
    Letters Draw no
    Response

    By Bob Balgemann

    Efforts are continuing to have a referendum on the
    November 2 general election ballot, asking Candlewick
    Lake residents if they want their unincorporated community
    to become a city.
    For that to happen there needs to be a positive vote of
    residents and no objections from any of the three nearby
    villages. The second condition applies because Candlewick
    Lake has fewer than 7,500 residents and is within 1½ miles
    of the villages of Caledonia, Poplar Grove and Timberlane.
    Given that, Paul Folster, chairman of the Candlewick
    Political Action Committee, has sent letters to the three
    village presidents to see if they have any objections to the
    incorporation. Each of the village leaders said he didn’t plan
    to respond.
    Caledonia Village President Rodney Fritz said he talked
    with the two other village officials and the consensus was
    not to reply to the letter. “There is no advantage to any of
    us to have another municipality right next door,’’ he said.
    “They (Candlewick Lake) would be right on our doorstep.
    They’re going to want commercial.’’
    Poplar Grove Village President Bradley Rightnowar said
    Folster has “no standing in the community to be asking for
    anything.’’
    “We are ready to meet with the members of the elected
    board of the association to discuss anything they want to,’’
    he added.
    Beyond that, he said, “We have engaged in conversations
    with the villages of Timberlane, Caledonia and Capron on
    what we can do to mutually benefit each other. We could
    welcome such discussions with the Association Board of
    Candlewick Lake.
    “Obviously, we believe common areas may exist in
    police protection and in water and sewer.’’
    The Candlewick Lake Association has a seven-member
    board that runs the community, levying annual dues and
    providing various services. Several years ago it agreed to
    incorporation being explored, but it has not taken a position
    on the question.
    Timberlane Village President Stephen Rapp said that
    municipality’s board agreed not to comment on Candlewick
    Lake’s possible incorporation until it receives “an official
    inquiry from the association.’’
    He added his village does seem to be “getting letters
    (about incorporation) from a number of groups in Candlewick
    Lake.’’
    Request for Permission
    Folster is a former
    member of the Candlewick
    Lake Association.
    In his letter to the
    village presidents, he cited
    Illinois law that requires an
    unincorporated community
    of fewer than 7,500 residents
    to receive permission to
    incorporate from existing
    municipalities within 1 ½
    miles of its borders.
    “As such,’’ he wrote,
    “this is our formal request
    for your permission to
    incorporate. Should you
    have any objections to
    our incorporation, we
    have quoted that section,
    in part, below for your
    convenience.’’
    An objection may be
    filed with the Boone County
    Circuit Court Clerk’s office,
    according to the letter. It
    must show that incorporation
    would adversely affect the
    existing municipality.
    Folster wrote that
    Candlewick Lake’s reason
    for becoming a city “is to
    gain control over our water
    and sewer utilities to lower resident costs for same. We are
    also hoping to acquire our own police force to better secure
    our neighborhoods.
    “It is our understanding that you may have a concern
    with allowing us annexation power, but please rest assured,
    we have no intention of expanding any of our boundaries
    and are willing to enter into boundary agreements should
    you wish this.
    “Lastly, we feel that our incorporation could also benefit
    you, our neighbors, in many ways. Should the need ever
    arise within your own communities, we could develop
    partnerships with each or all of you, through the use of
    districts, in the sharing of water/sewer, police protection,
    park facilities and/or any other need that we all share.’’
    He closed by saying if any of the village presidents had
    questions or concerns they should call him, and he listed his
    telephone number.
    Efforts are continuing in Candlewick Lake to have
    a referendum on the November 2 general election ballot.
    The Candlewick Voice, a year-old activist organization in
    the community, is expected to spearhead a petition drive
    starting in June. The signatures of at least 200 registered
    voters are needed for the referendum to be held.
    Meanwhile, the Political Action Committee is expected
    to have another town hall meeting on incorporation, with
    updated information, in May or June. The committee is
    serving as a clearing house of information for the issue and
    has not taken a position on incorporation.

    Candlewick Lake
    Residents Finally
    Reach a Quorum

    By Bob Balgemann
    The second time was the charm Sunday as the Candlewick
    Lake Association had a quorum and could conduct the
    community’s business during its once-postponed annual
    meeting.
    There were 710 lot owners represented through proxies
    or by showing up at the Recreation Center for the 1 p.m.
    gathering. On March 21, the count was 468, leaving the
    association 116 short of the 584 needed for a quorum.
    Board President Rich Witt thanked residents for their
    proxies and for being at the meeting.
    General Manager Tracy Carter gave the financial report,
    which led into the primary matter of business: deciding
    what to do with any excess money the community might
    have at the end of each fiscal year.
    Carter said Candlewick would have an estimated
    $100,000 surplus on April 30, conclusion of the 2009-10
    Fiscal Year. The resolution up for action provided three
    options for what to do with that money: apply it to the
    previous year’s property assessments, add it to the reserve
    fund, or use it for a major repair of some kind.
    Residents were handed ballots as they signed in before
    the meeting began, giving them a chance to vote on the
    resolution.
    Carter said this action was necessary because carryover
    money is taxable. He added that boards in the past had
    applied any surplus dollars to the reserve fund. (That was
    done informally because the board did not follow provisions
    of the association’s bylaws that lot owners vote on the
    proposal).
    There was some debate among the lot owners in
    attendance Sunday but none chose to be identified.
    One resident thought the surplus should be divided
    among lot owners. Carter said that could happen but that it
    wouldn’t take place until the 2011-12 Fiscal Year.
    Another said any per-lot rebate would be small and
    that the money would be better spent on some kind of
    community project. The fact that there is a surplus means
    “the manager and departments are doing a great job of
    controlling expenses,’’ she said.
    The final tally of ballots, as read by board President Witt,
    was 657 in favor of the resolution and 48 opposed.
    How About More Fire Hydrants?
    Once that was known, there was a brief discussion
    of projects, with one resident suggesting additional fire
    hydrants for the community. “That would lower our (fire)
    insurance rate and be a good investment,’’ he said.
    But another resident countered that fire hydrants are only
    good for “flushing out the (water) system and for dogs.’’
    There also was a brief flurry of comments over the
    proposed incorporation of Candlewick Lake. Incorrect
    information was given out that should Candlewick become
    as a city, any excess money would go to the state. Someone
    on the other side of the issue refuted that when Witt
    interjected, “We don’t want to get into this discussion. It’s
    not on our agenda.’’
    Someone else countered that the meeting was in the
    “open discussion’’ phase at that point, which would permit
    conversation about incorporation. But comments from the
    audience were not an agenda item this year, as they were for
    the 2009 annual meeting.
    The meeting wrapped up with two of three recently
    elected association board members – Benita “Bonnie’’
    Barron and incumbent Gary Kurpeski – taking the oath of
    office.
    Board Secretary Pam Cangelosi, who administered the
    oath, said the other newly elected member, Cathy Headley,
    was at the March 21 meeting but was not able to attend the
    April 18 session.
    At the outset of the meeting and before it was known if
    there was a quorum, Cangelosi told residents of upcoming
    community events.
    A bicycle rodeo for youngsters is planned for June 5.
    Witt said taking the course would result in boat insurance
    being reduced, possibly by as much as 20 percent. A boat
    safety class is being held the same day.
    Cangelosi said sign-up for a Neighborhood Watch
    program continues. The Fourth of July parade will be
    held on July 3, a Saturday. Among invited participants are
    the Belvidere Police Chief Jan Noble, the Boone County
    Sheriff’s Department, Capron EMTs, State’s Attorney
    Michelle Courier and … two alpacas.
    “It’s a celebration of neighbors,’’ Cangelosi said.
    Additionally, a luau is being planned for Memorial Day
    weekend; kids’ fishing is on tap for Father’s Day; a family
    camp-out is in the works for The Outpost; and the Concert
    in the Park will return this summer.

    County Approves
    4-Year Wage Freeze
    for Elected Officials

    By Rebecca Osterberg
    Boone County Board members voted to freeze elected
    officials’ wages for four full years at the April 21 board
    meeting.
    The move was preceded by lengthy discussions at
    both the Finance Committee and board levels, with many
    opinions shared that it was either to lengthy a freeze or not
    enough in the current economic recession.
    While there are preliminary signs that financial recovery
    is progressing, numerous media publications have indicated
    that on the state level, it will take as long as four years for
    solvency to return to their coffers.
    The freeze was voted on in committee and approved by
    a vote of three-to-two. County Representative Paul Larson
    (District 2) amended the motion to include a 1.5 percent
    increase for 2013 and 2014, but that amendment was
    defeated.
    County Representative Pat Mattison (District 3) spoke
    to county Administrator Ken Terrinoni about state income
    tax receipts.
    “Ken, didn’t you get information that we may have a
    reduction in state income tax [revenue] next year?” asked
    Mattison. “Is the reduction at about $504,000?”
    “Yes,” Terrinoni replied. “We are currently four months
    behind with income tax. Last year you only received 11
    payments and as you know there are twelve months to a
    year.”
    “I don’t think under the economic conditions that we
    can project out that things are going to be better three years
    from now or four years from now,” said Mattison. “I can’t
    see anything reasonable about passing any kind of raise
    under those circumstances.” According to figures provided
    by Terrinoni, the latest projected deficit stands at $288,000.
    “I am looking at the very strong possibility we are going
    to have to start laying people off,” said county Representative
    Terri Glass (District 3). “Then have to tell these people
    that their bosses are going to get raises...3 percent is a lot
    more on [a salary of] $80,000 than on one of $30,000. I
    appreciate the work our department heads do....but we don’t
    have a department head that at the end of the year is going
    to make less $50,000.”
    County Representative Marshall Newhouse (District
    1) said his own appreciation for the work of the county’s
    elected department heads, but was in agreement. “What
    has been said across this room, is that Boone County stands
    to make significantly less [next year] than this year,” said
    Newhouse. “In union negotiations, to take a hard line will
    be difficult. I will continue to support a four-year freeze.”
    The possible alternative of using the Social Security
    cost-of-living wage index as a means to set up a pay raise
    schedule, but the idea was rejected as too complicated.
    Most county board members agreed there was no way to
    afford any raises. County Representative Peggy Malone
    (District 3) asked her fellow board members about the need
    for a four-year solution. “Is there a reason there is a fouryear
    solution?” asked Malone. County Representative Karl
    Johnson (District 2) explained that the timeline is due to the
    four- year term of office for the positions.
    When Malone asked if there was no way to change it,
    Boone County State’s Attorney Michelle Courier noted that
    there was, in fact, a prohibition against it. “I think [there’s]
    something that’s getting lost in the shuffle here,” said
    Johnson. “Mr. Larson’s motion is not for this year. It is for
    the next five years. I would suggest you look at yourselves.
    Look in the mirror. What would you say if your boss said
    that you were doing a great job, but now you will be doing
    more with less?”
    Boone County Board Chairman Bob Walberg (District
    1) concluded discussion. “I voted in the affirmative before,
    but I still think that a five-year freeze is a long time,” said
    Walberg. “I reluctantly vote for these freezes. I’ve heard
    the crowd noise and these are hard times. They don’t want
    to see anyone being treated differently.”
    Each officer’s wages were voted on separately, passing
    for all three positions, including county clerk, sheriff and
    treasurer.