Ordinance SO2024-0007838
Passed
Issuance of general obligation and/or sales tax securitization corporation bonds for economic development and affordable housing programs
Auto-generated summary
The City Council of Chicago, authorized by the Finance Committee, has approved the issuance of $1,250,000,000 in Bonds and Additional Sales Tax Obligations to finance various projects including economic development and affordable housing programs. The bonds, sponsored by Mayor Johnson, will be issued in series and their terms will be determined by the Mayor or an Authorized Officer. The repayment of these obligations will not be the City's responsibility. Bonds can be sold directly or on a forward-delivery basis, with principal due within 40 years and interest not exceeding 12% per annum. The redemption terms of Bonds are determined by an Authorized Officer at the time of sale. Bonds may be redeemed prior to maturity at the City's option, with redemption prices determined by an Authorized Officer.
Alternate identifiers: O2024-0007838
Sponsors
| Sponsor | Ward | |
|---|---|---|
|
Johnson, BrandonPrimary Sponsor |
History
Legislation text
Additional Documents
- EDSs SO2024-0007838 Full EDS File verified April 17 2024.pdf
- First Substitute SO2024-00078838.apr11.pdf
- O2024-0007838 Original EDS.pdf
- O2024-0007838 Original Exhibit A.pdf
- O2024-0007838 Original Ordinance.pdf
- SO2024-0007838 Committee Letter.pdf
- SO2024-0007838 Exhibit A - Trust Indenture.pdf
- SO2024-0007838 Transmittal Letter.pdf