Ordinance O2025-0015697
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Issuance of bonds for Capital Improvement Plan (CIP) projects
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The City of Chicago has authorized the issuance of General Obligation Bonds not exceeding $400,000,000 to finance various public improvements and projects. The Bonds, which may be Taxable or Tax-Exempt, will be issued under trust indentures with a bond trustee appointed by an Authorized Officer. They will be issued in series with fixed interest rates and terms, and can be sold as Direct Purchase Bonds to Direct Purchasers. The Bonds can be transferred, exchanged, or redeemed prior to maturity at the City's discretion. The redemption terms are determined by an Authorized Officer at the time of sale and outlined in a Notification of Sale. The City may waive the right to call Bonds for redemption and use proceeds for authorized purposes. Lost or destroyed Bonds can be replaced with proper evidence and indemnification.
