The fiscal firebomb looming for small cities in Illinois
The southern Illinois city of Alton, population 28,000, has sold off its water treatment plant. The roughly $54 million it will clear from the sale will help pay down unfunded pension liabilities. Over in Kankakee, home to some 26,000 Illinoians and the Kankakee Community College, the municipal sales tax is increasing to help pay off that city’s pension tab.
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