Concerns voiced about another failing biofuel plant
Letter to the editor
Before it became common knowledge that the city of Benton, Ill., had made a $90,000.00 loan to the ethanol plant, which has gone bad, Peoples National Bank is suing the city of Benton along with the owners and Franklin County Treasurer.
I am enclosing a copy of the mortgage dates 3/14/2014 and if you notice it states it was written by Dennis Miller, Benton’s finance commissioner. Maybe Commissioner Miller should explain to Benton residents the part which says this mortgage is junior to the prior lien and security of Peoples National Bank NA securing indebtedness in the original principal amount not to exceed $1,702,113.43 as evidenced by a mortgage dated July 26, 2013.
The city of Benton to my knowledge did not receive a payment on the $90,000.00 loan, but I did read in the February 10, 2014 city council meeting minutes that Commissioner Ronald Baumgarte stated he had no problem with this, meaning the $90,000.00 revolving loan as long as the prior owner has nothing to do with it.
Commissioner Baumgarte’s statement as we now read it, is like the pot calling the kettle black. I am enclosing information on meetings which were attended by Dennis Miller, Paul Adams (not a member of the city council) and city attorney Tom Malkovich. The last meeting was dated February 24, 2014 and it was attended by Miller, Adams, Malkovich and Mayor Gary Kraft and I quote, “an on-site inspection of the BIO fuels plant was done to get a better understanding of the plant operation.”
The committee voted to make the loan and the company was only to hire veterans. Now the question is what is really behind all the maneuvering and secrecy? If it wasn’t for FOIA requests we would know nothing as our local paper which is owned by GateHouse Media have shown how little they care about printing both sides of a story.
Albert Smith
Benton, Ill.