Chicago City Council OKs Mayor's $5.1 Billion Budget for 2005

Shields, Yvette
December 2004
Bond Buyer;12/16/2004, Vol. 350 Issue 32031, p3
Trade Publication
The article gives information about the Chicago City Council, which has approved a $5.1 billion budget for 2005 that dips into proceeds of the city's $1.8 billion privatization of the Chicago Skyway toll road and raises the city's sales tax along with a handful of other taxes and fees to wipe out a $220 million deficit. The council approved the budget measure in two ordinances, one by a vote of 47 to 3 and the other by 45 to 5. The budget includes plans to borrow $150 million of general obligation debt under a neighborhood infrastructure program.


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