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December 5, 2022

COD-US Bank – Public Investment Act violated, Trustee McGuire wrong

By Kirk Allen & John Kraft

On June 14, 2015

DuPage C0. (ECWd)

During the June 11, 2015 College of DuPage meeting, Trustee McGuire made a statement of fact that she is going to regret.  She stated, while defending clear violations of their own policy, there has not been a violation of the Public Funds Investment Act.

During public comment I told her that if that statement is proven to be false she should resign.  After further review, she should be charged with criminal official misconduct.

From the Public Funds Investment Act : 30 ILCS 235/6
(d) Whenever a public agency deposits any public funds in a financial institution, the public agency may enter into an agreement with the financial institution requiring any funds not insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration or other approved share insurer to be collateralized by any of the following classes of securities, provided there has been no default in the payment of principal or interest thereon:

Note the state statute reference to funds not insured must be collateralized.

From the internal Audit report:Internal Audit verified that all but one institution (US Bank) had a collateral agreement on file. (Click here- read page 4 at the bottom) 

Now isn’t that special.  US Bank, the very bank that received a sweet heart no bid deal for its campus operations has yet again been highlighted.   (Click here to select from numerous US Bank articles exposing a vast amount of wrong doing)

US Bank was the only bank COD did not ensure  compliance with both board policy and state law.

COD Board Policy 10-55 (see page 70 of 291) states that it Satisfies all applicable governing laws, including, but not limited to, the Illinois Compiled Statutes, specifically 30 ILCS 235.

According to the internal audit it is now clear, Trustee McGuire was wrong!  COD not only violated board policy but they violated the Public Funds Investment Act.

Considering we have some judges that will not hold people accountable for policy violations, let’s see how the prosecutors do on a statute violation.  Official misconduct charges are in order and it is the only thing that is going to send the message to all the other public bodies who feel they can do as they please without any accountability. Those involved in the investment scandal and refused to correct it should be charged.

I would suggest Official Misconduct charges also be placed on Trustee McGuire as it was clear she refused to enforce the rules established by the board and took the position that the majority of the board is overreacting to the violations.

From the Community College Act: (110 ILCS 805/3-25) Sec. 3-25. To adopt and enforce all necessary rules for the management and government of the colleges of its district.  (Source: Laws 1965, p. 1529.)

Enforcement of the Board Policy is a mandated duty.  Her refusal to enforce the policy is a violation of the statute as well as her oath of office to uphold the law.  Her actions point directly to Official Misconduct, which states: “Intentionally or recklessly fails to perform any mandatory duty as required by law;

McGuire has intentionally and recklessly failed to perform her mandatory duty as outlined in the Community College Act.

Having seen public bodies get away with just about every imaginable illegal action, we can rest assured such behavior will never change unless our State’s Attorneys start prosecuting these people.  Only then will the message get through to these public officials.

US-BANK-PIC

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11 Comments
  • ECWDogs
    Posted at 15:35h, 14 June

    COD-US Bank – Public Investment Act violated, Trustee McGuire wrong http://t.co/auob34Wdj7 http://t.co/U8ZhgZGLfX

  • Chris M. Gaines
    Posted at 19:20h, 14 June

    I agree obviously as I’ve said many times here before as well. Until those responsible for these FELONY CRIMES are CHARGED by our States Attorney and prosecuted, convicted and sentenced to prison and NOT probation of any kind…it will continue indefinitely and justice will not be served.

  • George Barraclough
    Posted at 08:02h, 15 June

    This Official Misconduct by McGuire going unprosecuted is similar to the Missaplication of Public Funds (of over $5000 of gas for his personal car and fast food) by School Superintendent Cullen Cullen being not prosecuted in Madison County, Illinois

  • Bill Bass
    Posted at 13:23h, 15 June

    When is enough, enough? Hamilton in conjunction with Kirk Allen and John Kraft got rid of Breuder. Now we’re back to the drum beat of getting rid of Trustees tat disagree with this collective font of knowledge. How about this Kirk? Since you are so outspoken about transparency, why don’t you post your IRS Form 990s, so we can actually see how much Kathy Hamilton has donated to your group to be her hatchetmen.

  • Kirk Allen
    Posted at 13:43h, 15 June

    I will be happy to prepare a non disclosure contract for you to sign so I can show you that information, which will prove your assertions are wrong. I will even draft it in a way that you can disclose the information if it shows she donated. In addition, when it is proven she has not donated you pay us $1,000,00 for our troubles of disproving your allegation.

    Its sad that your not asking the Foundation to disclose but on the other hand, its exciting that you attribute Breuder’s departure to our work. That means we are pretty effective. Thank you!

  • Kirk Allen
    Posted at 13:45h, 15 June

    In the event you missed it, Hamilton has NEVER donated to our organization.

  • betty braun
    Posted at 16:00h, 16 June

    Now I know why you do not have a real job, you are such an amateur sleuth. Once again you interpret the data wrong. I think you do this on purpose. You like to stir the pot and cause trouble all the time. Why don’t you stay in Edgar County; we don’t need you in our county. You and Kathy have cost taxpayers millions of dollars to promote Kathy. You are not a watch dog; you are nothing more them a Hamilton puppet.
    Why don’t you publish your 990 so we can all see it. You say you are transparent, put it on line.

    McGuire is right. If you knew how to read you would see the internal audit report clearly shows there was a collaterization agreement for US bank. BUt we know you don’t care about the truth!

    • Kirk Allen
      Posted at 09:18h, 17 June

      What report are you reading? US Bank DID NOT have a collaterization agreement. DID NOT! Its clearly stated in words in the report as well as the table 1 report that states
      “X- “Documentation not on file in the Finance Department ”

      The places an X appears reflects there are NO RECORDS.

      Who is it that needs to know how to read?

      I even highlighted the information on page 4 where the auditor states ALL had the documents except US Bank. What part of that dont you understand? I would suggest spending more time reading and less time attacking, especially when your so blatantly wrong.

  • Robert Anderson
    Posted at 16:28h, 16 June

    Everyone knows that Hamilton bought the board. I don’t see you complaining about that or the laws she broke. Got a problem telling the truth Kirk?
    McGuire is correct, you are the one that is wrong. Be a man and admit what you do for a living is to cost taxpayers money with your lies.

    • Kirk Allen
      Posted at 09:18h, 17 June

      Please point to the laws she broke so we can report on it.

  • Daily Herald
    Posted at 15:51h, 17 June

    “Helping out
    College of DuPage Trustee Kathy Hamilton loaned her campaign $28,400 in the closing days of the local election, then loaned the same amount from her campaign to the slate that helped elect three like-minded trustees April 7. ”

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