By Bill Cameron, WLS-AM News
(CHICAGO) At City Hall, the big borrowing to reduce city’s pension debt that the mayor’s chief financial officer is considering may be even bigger than advertised.
The big bond deal CFO Carol Brown has been considering was originally $10 billion, but now she says it may be bigger depending on how attractive the bond market becomes.
In the race for mayor, challenger Paul Vallas has come out against it, “It allows them to avoid making really tough decisions, kick the can down the road to the next administration. It allows them to award hundreds of millions of dollars to bond counsels, underwriters. I think it will also help them on the (campaign) fundraising side, so it’s certainly consistent with the pay-to-play culture.”
Meantime, there’s a big push to go slow and at least hold city council hearings.
@ 2018 WLS-AM News
