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Chicago Board of Education OKs property tax hikes for new budget

from Chicago Tribune

The Chicago Board of Education has approved a roughly $5.4 billion budget that relies on a series of property tax hikes, more borrowing and a financial windfall from a gridlocked state government coming to fruition. The board also authorized a credit line of more than $1.5 billion to help the district pay its bills this year and up to $945 million in borrowing for largely unspecified school construction projects. more

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