Chicago City Council Passes Controversial $830 Million Bond Plan
The bond is the first the city is seeking to issue after S&P Global Ratings downgraded its credit one notch to BBB last month.
Photographer: Jamie Kelter Davis/BloombergThis article is for subscribers only.
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.
The ordinance passed 26 to 23.