Chicago considering plan to borrow $10B to fund pension liabilities
The City of Chicago is considering a plan to address unfunded pension liabilities by borrowing $10 billion in bonds, according to the Illinois Policy Institute. Crain’s Chicago Business reports that during an investor’s conference on Aug. 2, the city’s Chief Financial Officer Carole Brown and a prominent backer of Mayor Rahm Emanuel – Michael Sacks – suggested the city issue billions in obligation bonds.
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