CHICAGO (WBBM NEWSRADIO) - Despite pressure from some aldermen, Mayor Johnson is not backing down from his proposed $830 million bond issue that’s up for a vote today. But, he is offering more transparency.
Johnson told reporters Tuesday the $830 million in borrowing is a needed investment for the people of Chicago, plain and simple.
“This funding is needed to maintain the critical public safety and public infrastructure systems that our residents rely on, and they rely on those type of investments every day,” said Johnson.
City Chief Financial Officer Jill Jaworski said there have been some complaints that the provisions make it sound like the money doesn’t have to go to infrastructure, but that language was there to give the Council flexibility.
“Some of the aldermen do choose to use their money for grants for schools, for parks, for museums in their ward, so that’s solely there for that,” Jaworski said. “That’s been misconstrued as a piggy bank for the City to use for all kinds of things that we have no intention to use, and we’ve been clear that our intent is to use these bonds for capital improvement.”
The language up for a vote at today's council meeting will specify it is for infrastructure. Last week, the vote was delayed by a parliamentary maneuver.
Listen to WBBM Newsradio now on Audacy!
Sign up and follow WBBM Newsradio
Facebook | Twitter | Instagram | TikTok I Bluesky