CHICAGO (CBS) — Gov. Pat Quinn said Wednesday he wants cities across the state to take advantage of the $1 billion Illinois Clean Water Initiative.
WBBM Political Editor Craig Dellimore reports the city of Chicago already has received the first money from the fund.
The governor and Mayor Rahm Emanuel were all smiles, standing with organized labor leaders at Plumbers Hall, for a joint announcement that the Clean Water Initiative has loaned the city $15 million to help repair and replace deteriorating water mains.
Why would the city, which has its own bonding authority, borrow from the state? Emanuel said the interest rate on the loan is lower, and helps Chicago do more.