Ordinance O2025-0015696
Active
Issuance of bonds for public infrastructure, community development, and neighborhood improvements through City's Aldermanic Menu program
Auto-generated summary
The City of Chicago, Illinois, has approved a financing plan involving general obligation bonds not exceeding $108,000,000 for public infrastructure and transportation improvements. The bonds, which can be taxable or tax-exempt, can be issued in various amounts and terms, and are authorized for sale by the Mayor or an Authorized Officer. The bonds can be used to finance costs, refinance credit indebtedness, and are subject to a fixed-rate amortization schedule. The Bond Registrar facilitates registration and transfer of bonds, and bonds may be subject to redemption at the City's option. The redemption process, managed by an Authorized Officer and the Bond Registrar, includes prior notice to bondholders and specific redemption terms. The bonds comply with all legal requirements, including limitations on City indebtedness and provision for annual tax collection.
