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Bond Buyer: Chicago School Board to Weigh $840 Million of New Bonds
Junk-rated Chicago Public Schools will ask its Board of Education for authority to sell up to $840 million of bonds backed by a new citywide capital improvement tax levy and to refund up to $160 million more.
The two items are on the board’s agenda for its monthly meeting Wednesday.
“This up-to amount would be for construction under the supplemental capital plan and funded by revenue from the new capital improvement tax,” said CPS spokeswoman Emily Bittner. “Because these bonds have a dedicated revenue source, they will not impact CPS’ operating budget. We anticipate releasing the supplemental capital plan after we’ve gone to market.”
Sun-Times: Feds, state officials look into Kankakee voter fraud allegations
The flurry of voter fraud and intimidation allegations and counter allegations swirling through Kankakee County has caught the attention of state and federal officials.
A day after Kankakee officials announced an investigation into voter fraud, including allegations that “individuals from Chicago” were offering gifts in exchange for votes, the top federal attorney for central Illinois and Illinois Attorney General Lisa Madigan paid the city a visit.
Chicago Tribune: Your money, Madigan's money
In his little-known role as the state’s librarian, Illinois Secretary of State Jesse White maintains government archives, administers grants to local libraries, oversees literacy programs — and launders money to pay for House Speaker Michael Madigan‘s pet projects.
The Tribune’s Ray Long explained how that works in a story in Sunday’s editions: Last year, Madigan parked a $35 million state grant — earmarked for Chicago Public Schools projects supported by the speaker — in the secretary of state’s account. We touched on this in a Sunday editorial, but it deserves even more discussion.
Democrats in the General Assembly were preparing to pass a spending plan that was more than $1.5 billion out of whack. Madigan wanted to make sure the new middle school under construction in his Southwest Side legislative district would be safe when the money ran out.
Chicago Tribune: Illinois Obamacare premiums rise by double-digits for 2017 plans
The wait is over: People who want to buy health insurance on the state’s Obamacare exchange can go online to see their options and prices, but they may not like what they find.
The plans unveiled online Monday contain far fewer choices and significantly higher prices, and arrive toward the end of a presidential campaign in which Republican candidate Donald Trump has called for the repeal of the Affordable Care Act and Democratic candidate Hillary Clinton has said she wants to fix it.
President Barack Obama recently defended the law under which the exchanges were created — the Patient Protection and Affordable Care Act — while conceding it’s not perfect. On Monday, administration officials insisted that coverage on the exchange will still be affordable for most Americans.