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.

   
  Eighteen of the 20 largest banks in the world and more than 50 foreign banks have offices in Cook County.
   
     
     
     



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

Special prosecutor billed Cook County nearly 50K for Van Dyke murder case
Thursday, October 18, 2018
Chicago Sun-Times

Cook County Board votes in favor of $4 million settlement in Stroger medical malpractice case
Wednesday, October 17, 2018
Chicago Tribune

Judge bucks Cook County law, says boys as young as 10 can be locked up
Wednesday, October 17, 2018
Chicago Tribune

Village of Northbrook Opts Back In to the Cook County Earned Sick Leave Ordinance
Monday, October 15, 2018
National Law Review

Chicago health system to add 240+ jobs
Monday, October 15, 2018
Becker's Hospital Review

Fired doctor sues county, loses whistleblower claim
Friday, October 12, 2018
Chicago Daily Law Bulletin

Cook County health system to add jobs
Thursday, October 11, 2018
Crain's Chicago Business

No layoffs or tax hike in mayoral hopeful Preckwinkle’s proposed county budget
Thursday, October 11, 2018
Chicago Sun-Times

'Inclusionary' housing ordinance rewrite advances
Thursday, October 11, 2018
Evanston Now

Faced with tight budgets, more Illinois counties merge clerk, recorder offices
Monday, October 08, 2018
Chicago Sun-Times

Class action: Hundreds of Cook Sheriff officer suspensions invalid, because State's Attorney not involved
Friday, October 05, 2018
Cook County Record

One Cook County judge bucks chief judge’s order against unaffordably high bail
Monday, October 01, 2018
Chicago Sun-Times

Game of thrones? Watchdog sees ‘scheme to defraud’ in Pritzker toilet tax break
Monday, October 01, 2018
Chicago Sun-Times

County Board approves $31M election equipment contract despite lawsuit; $11M to settle 2 malpractice lawsuits
Wednesday, September 26, 2018
Chicago Tribune

County approves new election equipment contract, despite rival firm’s lawsuit
Wednesday, September 26, 2018
Chicago Sun-Times

Top prosecutor Kim Foxx apologizes as 18 convictions linked to corrupt cop vacated
Monday, September 24, 2018
Chicago Tribune

Preteens out of detention before trial under new ordinance
Friday, September 14, 2018
Chicago Daily Law Bulletin

Cook County Board bars detention of youth under 13 years old
Thursday, September 13, 2018
Injustice Watch

Preteens accused of crimes won't be locked up at Cook County juvenile center
Thursday, September 13, 2018
Chicago Sun-Times

Slowik: Cook County offers residents last chance to comment on strategic plan
Thursday, September 13, 2018
Daily Southtown

all news items

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