Suffredin- Changing County Government  
 

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:  
   
 
 

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

   
 

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

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



Cook County Board approves borrowing to cover employee pension costs

Tuesday, February 09, 2010
Chicago Tribune
by Hal Dardick

The Cook County Board today approved a short-term borrowing plan to cover $104 million its owes to the employee pension fund.

If accepted by the pension board, the county would pay $108 million --- the amount it owed the pension fund, plus 2.75 percent interest, said Laura Lechowicz Felicione, the county attorney who has been negotiating with the pension board. The original pension payment was due in December 2008.

The county will use $30.4 million it has on hand and take and take out a three-year loan for the rest of the payment. Once paid off in 2013, Felicione said the county will have paid about $112 million to cover the original debt of $104 million, meaning the cost for the late payment is about $8 million.

Board President Todd Stroger initially wanted to take out a longer term loan to pay the debt, but that would have cost the county more money in the end. Stroger did not attend today's meeting, his first since losing his re-election bid in the Democratic primary a week ago. His staff said he was slowed by snow coming back from a weekend trip to New Orleans.

“I want to commend you for bring this to a close and having a way to pay this off in a very short period of time,” Commissioner Forrest Claypool, D-Chicago, said to Felicione. “The original plan to fund a ongoing year-to-year obligation with long-term debt was absolutely irresponsible. I think this is a reasonable approach.”


Recent Headlines

Cook County board to vote on new budget today
Tuesday, November 21, 2017
WGN Channel 9

Preckwinkle agrees to fewer Cook County job cuts; hundreds of layoffs still in works
Tuesday, November 21, 2017
Chicago Tribune

Teamsters Local 700 Files for Temporary Restraining Order Against Cook County Merit Board
Tuesday, November 21, 2017
Special to suffredin.org

How Cook County finally got a new budget
Tuesday, November 21, 2017
Crain's Chicago Business

ONTIVEROS: I think I miss that soda pop tax
Monday, November 20, 2017
Chicago Sun-Times

Budget Cuts Expected For Cook County Public Guardian’s Office
Monday, November 20, 2017
CBS Chicago

Ex-Cook County Board President Todd Stroger says he's running again
Monday, November 20, 2017
Chicago Tribune

More than 300 Cook County employees will lose jobs to balance budget
Monday, November 20, 2017
Chicago Sun-Times

Cook County Jail Population Down 15 Percent After Bond Reforms
Monday, November 20, 2017
WTTW Chicago Tonight

Stroger vs. Preckwinkle: Hide your wallets.
Monday, November 20, 2017
Chicago Tribune

After momentous week, prosecutor Kim Foxx says 'we have to right wrongs'
Monday, November 20, 2017
Chicago Tribune

Police union president slams Foxx, prosecutors after exonerations
Saturday, November 18, 2017
Chicago Sun-Times

MIHALOPOULOS: Will pop-tax anger unseat Preckwinkle, or fizzle out?
Saturday, November 18, 2017
Chicago Sun-Times

After Warning of 'Painful Cuts,' Preckwinkle to Unveil 2018 Budget Amendment
Friday, November 17, 2017
NBC Chicago

Watchdog: Quit stalling on Cook County justice system data
Friday, November 17, 2017
Crain's Chicago Business

The Week in Review: Record Wave of Exonerations Tied to Rogue Cop
Friday, November 17, 2017
WTTW Chicago Tonight

Preckwinkle, some commissioners say enough votes for amended budget
Friday, November 17, 2017
Chicago Sun-Times

Preckwinkle: Nothing Pleasant About Hundreds Of Layoffs
Friday, November 17, 2017
CBS Chicago

Cook County commissioners get behind Preckwinkle's budget cuts
Friday, November 17, 2017
Chicago Tribune

Chuy Garcia Sole Cook County Commissioner Iffy on Budget
Friday, November 17, 2017
WTTW Chicago Tonight

all news items

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