A top financial analyst said bond rating agencies probably won’t be troubled by the Chicago Board of Education’s vote to borrow more than $1 billion to help the Chicago Public Schools address a massive budget crunch in the coming year.
In the blink of an eye, the Chicago City Council today authorized nearly a billion dollars in borrowing and more and Mayor Emanuel is defending the move.
The Daley administration took out nearly $30 million in loans to run the park, from the year after it opened, until the former mayor left office.
The Emanuel administration said Tuesday it will essentially borrow money to compensate thousands of African-Americans who were passed over by the city’s firefighter entrance exam in 1995, which courts have ruled was discriminatory.
The DuPage County Sheriff’s office is being criticized this morning for not preparing properly for the NATO Summit weekend.
Cook County Forest Preserve officials expect to add more land this year, and also make repairs to some picnic enclosures.
Illinois State Treasurer Dan Rutherford said Sunday that the state’s gargantuan debt has pushed Illinois to “the verge of a financial disaster.”
Critics say the State of Illinois is robbing Peter to pay Paul in its plans to borrow money to balance the state budget, and now, Comptroller Judy Baar Topinka is calling for major changes.
With an income tax hike already in effect, Gov. Pat Quinn has presented a budget plan that would not raise any new taxes or fees, but would still cut state aide to the poor, reduce a number of services and borrow billions of dollars to pay overdue bills.
Published reports are describing what Gov. Pat Quinn will have to say in his budget message to be delivered Wednesday.
State lawmakers have declined to borrow more than $8 billion to catch-up on funding agencies that held the elderly, seniors, children and those with special needs.
A new report says Gov. Pat Quinn has a proposal for dealing with some of the states huge number of unpaid bills.