Here’s an excerpt from my latest at DeKalb County Online:
Thanks to recent discussion of DeKalb Public Library’s plan to pay back taxpayers for emergency help with its expansion project, much of DeKalb knows about DKPL’s $4.5 million bank loan to keep construction going during Illinois’ budget impasse.
Not many know about the bank loan of $3 million, but maybe you should. Here’s why:
DKPL originally took out the loan in 2013 for a term of two years, but still owes more than $1 million on it. Revenues and payments on this loan have not been accounted for in library budgets. Votes to renew the loan are not documented in meeting minutes, which may violate the library’s own bylaws as well as the Open Meetings Act.