Suffredin- For a Better Cook County  
 

Accountability
Forest Preserves
Public Safety
Cook County Budget
Forest Pres. Budget
Property Tax Appeal
Health & Hospitals
Land Bank Authority
Policy Resolutions
Unsung Heroine

 

   
 
   
   
 
   
     
  Office phone numbers:  
   
 
 

The Cook County Code of Ordinances are the current laws of Cook County.

   
 

Search current and proposed Cook County Legislation in Larry's exclusive legislative library.

   
  Last year more people used the County's forest preserves than visited Yellowstone National Park.
   
     
     
     



County seeking $200 mil. loan

Saturday, July 08, 2006
Chicago Sun-Times
by STEVE PATTERSON

Twelve weeks ago, Cook County chief of staff James Whigham -- running the county's day-to-day operations -- flatly denied the county was in such dire financial straits that it would have to borrow money to make ends meet.
Friday, things changed.
For the first time in more than a decade, Cook County must borrow to help pay the bills.
According to an ordinance delivered to commissioners, they will be asked Wednesday to allow the county to seek a $200 million loan.
"We were arrogantly told everything was OK," Commissioner Mike Quigley said. "It wasn't."
The request from county chief financial officer Thomas Glaser outlines terms that call for the county to pay the loan back over 18 months, at 10 percent interest.
That will allow for "timely payment of general county expenses," Glaser's request says.
Multiple county contractors have been grumbling in recent months about delays in being paid.
Glaser's request cites delays in the county receiving its share of state funds for general county and hospital expenses.
If approved, the $200 million would represent about 6.6 percent of the county's $3 billion budget.
Titanic comparisons last month
County officials did not respond to requests for comment, but just last month, Glaser compared county finances to the Titanic, telling commissioners he sees "icebergs floating" and "I have my life preserver on."
The request to borrow funds comes three months after Crain's Chicago Business reported the county was asking local banks about a loan -- and Whigham scoffed at the report.
"Either [officials] didn't want to be totally candid with us or they didn't see it coming, which would be an even greater concern," said Commissioner Peter Silvestri. "Nothing good comes from this."
The request is likely to embolden a county board already feeling more independent in the wake of John Stroger's resignation last week as board president.
His resignation, effective July 31, prompted a flurry of filings by commissioners, demanding greater financial accountability -- most of it aimed at the county hospitals.
Last month, records showed the bureau of health was falling substantially short in revenues, driving projections of a county budget deficit to more than $88 million.


Recent Headlines

IMPORTANT MESSAGE FROM COMMISSIONER SUFFREDIN
Thursday, May 16, 2019
Special to suffredin.org

Cook County Assessorís Office Publicly Releases Residential Assessment Code and Models
Thursday, April 18, 2019
Special to suffredin.org

EDITORIAL: Long in the MWRD pipeline, IG plan needs a yes vote
Wednesday, April 17, 2019
Chicago Sun-Times

Cook County Health Cuts Ribbon on Outpatient Center in Arlington Heights
Tuesday, April 16, 2019
Daily Herald

Celebrate Earth Day with the Forest Preserves of Cook County
Tuesday, April 16, 2019
Special to suffredin.org

Homeowners in Chicago have just a few weeks to get current on their 2017 property taxes - or risk losing their homes. WBEZís Odette Yousef reports.
Tuesday, April 16, 2019
WBEZ Chiacgo Public Radio

Editorial: The Foxx-Smollett questions for Inspector General Blanchard
Tuesday, April 16, 2019
Chicago Tribune

Cook County pet owners warned of spring coyote dangers
Monday, April 15, 2019
Chicago Sun-Times

Cook County inspector general to review prosecutors' handling of Jussie Smollett case
Saturday, April 13, 2019
Chicago Tribune

Foxx requests Cook County IG investigation into handling of Jussie Smollett case
Friday, April 12, 2019
Chicago Sun-Times

A challenge to one of Chicago's biggest draws for companies
Friday, April 12, 2019
Crain's Chicago Business

What Evanston's assessments tell us about the new assessor's new math
Friday, April 12, 2019
Crain's Chicago Business

$3.85 million granted in lawsuit against ex-Cook County forest preserve worker charged in fatal on-the-job crash
Thursday, April 11, 2019
Chicago Tribune

A Day in the Life of a Cook County Burn Crew
Wednesday, April 10, 2019
WTTW News

EDITORIAL: Splitting up the regionís sanitation board is an idea that stinks
Monday, April 08, 2019
Chicago Sun-Times

Lawmakers Look To Keep 10-Year-Olds Out Of Jail
Thursday, April 04, 2019

Property Tax Workshops Help Homeowners Appeal Assessments
Wednesday, April 03, 2019
Evanston RoundTable

Large crowds of Evanston residents turn out to appeal property tax assessments
Tuesday, April 02, 2019
Chicago Tribune

Family of slain cabbie accuses Cook County state's attorney's office of dodging FOIA request
Monday, April 01, 2019
Chicago Tribune

Property Tax Appeal Seminar Set For New Trier Township Residents
Monday, April 01, 2019
Journal and Topics Online

all news items

Paid for by Larry Suffredin and not at taxpayer expense. A Haymarket Production.
^ TOP