Jake Leonard

From: Jake Leonard <chairman@tricountylibertarians.org>

Sent: Tuesday, April 11, 2017 11:36 PM
To: 'bourne@ilhousegop.org'
Cc: 'staterepsue@gmail.com'; 'halbrook@ilhousegop.org'
Subject: Oppose HB3004 and HB3005

Dear Representatives Bourne, Scherer and Halbrook,

I urge you to seriously consider opposition to House Bills 3004 and 3005.

These bills will allow the state treasurer to buy unsecured bonds from broke and incredibly poor local
municipalities, sold as a riskier investment with higher interest rates. If these bills pass, they will be considered
as a general obligation and will be moved to the front of the line in the states already outrageous backlog of
payments, giving lenders with connections a less risky investment with the same interest rates.

Im not sure whether you look at it my way or not, but these are essentially bills with intent to bail out banks
in the state of Illinois. It allows poorly-secured local municipal bonds to be bought at taxpayer expense, with a
100% guarantee rate. The Federal government already bails out failed banks, so why should our states
taxpayers foot the bill to bail out banks at the state level.

I strongly encourage a NO vote on these bills.

Jake Leonard
Chapter Chairman | Tri-Counties Libertarian Party
Member | Libertarian Party of Illinois Legislative Action Committee
Website: www.tricountylibertarians.org
800 Capps Ave., Nokomis, IL 62075
office: 217.630.2107 | mobile: 217.710.0158