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.

   
  The Cook County Forest Preserve District maintains over 70 miles of bicycle trails.
   
     
     
     



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

Dart warns of 'dramatic increase' in accused gun offenders released on electronic monitors
Friday, February 23, 2018
Chicago Tribune

Anti-soda tax PAC jumps in Cook County Board races
Monday, February 19, 2018
Chicago Sun-Times

Wilmette minimum wage working group surveys businesses, will survey residents
Monday, February 19, 2018
Chicago Tribune

Circuit clerk gets stay on e-filing order
Friday, February 16, 2018
Chicago Daily Law Bulletin

Hundreds gather at Bridgeport church for Cmdr. Paul Bauer's wake
Friday, February 16, 2018
Chicago Tribune

Dart goes to court in effort to find person accusing him of domestic violence
Friday, February 16, 2018
Chicago Sun-Times

Study says property tax system favors rich
Friday, February 16, 2018
Chicago Sun-Times

Property Tax System ‘More Regressive’ in Cook County, Report Finds
Friday, February 16, 2018
WTTW Chicago Tonight

VIDEO: Cook County Jail detainees applaud CPD commander’s alleged killer
Friday, February 16, 2018
Chicago Sun-Times

Blockbuster report: How Cook County tax system shafts the little guy
Thursday, February 15, 2018
Crain's Chicago Business

Order over lawsuits in Dorothy Brown’s office put on hold by appeals court
Wednesday, February 14, 2018
Chicago Sun-Times

Dorothy Brown can't 'end-run' First Amendment, judge says in denying delay
Tuesday, February 13, 2018
Chicago Tribune

Cook County prosecutors toss more convictions tainted by corrupt ex-Chicago police Sgt. Ronald Watts
Tuesday, February 13, 2018
Chicago Tribune

Handwritten documents, Manila folders, carbon paper — welcome to Cook County criminal court
Monday, February 12, 2018
Chicago Tribune

2 Cook County Commissioners missed over a third of Forest Preserve meetings
Sunday, February 11, 2018
Chicago Sun-Times

Cook County Jail guards lock down sweet union contract—despite sour budget mess
Sunday, February 11, 2018
Chicago Sun-Times

Running for judge, Dorothy Brown’s inspector general accepts donation from bos
Friday, February 09, 2018
Chicago Sun-Times

Cook Co. President Urges Trump To Stop ICE Arrests In Courthouses
Wednesday, February 07, 2018
Beverly Patch

Voting in Jail? New Bill Seeks to Expand Ballot Access for Detainees
Wednesday, February 07, 2018
WTTW Chicago Tonight

COOK COUNTY BOARD COMMISSIONER PROPOSES HEARING ON POLICE OVERSIGHT
Wednesday, February 07, 2018
WBEZ BGA

all news items

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