Ordinance O2025-0015727
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Amendment of Municipal Code Chapter 2-8 by adding new Section 2-8-036 entitled "Issuance of Bonds and Other Indebtedness - Ordinance Requirements"
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Chicago's City Council enacted Section 2-8-036, stipulating ordinance requirements for issuing general obligation and revenue bonds among other debts. It mandates a two-thirds Aldermen vote, prohibits municipal officers and committees from proposing contradictory ordinances or amendments, and enforces compliance for all debt issuance, marking a significant change in municipal finance.
