Controversial $830 million borrowing plan approved by Chicago City Council
A plan to borrow $830 million to finance infrastructure improvements in Chicago narrowly passed the City Council on Wednesday afternoon.
Chicago City Council Passes Controversial $830 Million Bond Plan
Chicago’s City Council on Wednesday approved Mayor Brandon Johnson’s controversial proposal to sell $830 million in bonds for infrastructure costs despite concerns about the debt’s delayed repayment schedule and who would get to use the proceeds.
Chicago City Council approves $830 million bond issue
The City Council voted Wednesday to approve an $830 million bond issue to fund infrastructure improvements, despite concerns over the amount and terms of repayment. Why it matters: After a bruising budget season and recent downgrading of the city's credit rating,
WATCH: Chicago city council approves mayor’s borrowing plan despite objections
Chicago’s city council has approved Mayor Brandon Johnson’s $830 million bond issue. By a vote of 26 to 23, aldermen said “yes” to the mayor’s plan to borrow the money for capital projects. Alderman and Vice Mayor Walter Burnett Jr.
City Council approves Johnson’s $830M borrowing plan
After a long impassioned debate and some stalling tactics, the vote was 26 to 23 to approve borrowing $830 million to repair and maintain Chicago’s roadways, bridges, and more.
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