Suffredin- An Advocate for All of Us  
 

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.

   
  The Chicago Board of Trade and the Chicago Mercantile Exchange trade 60% of the world futures contracts.
   
     
     
     



Mixed news on Cook County bond rating

Friday, July 27, 2012
Chicago Tribune
by Hal Dardick

There’s mixed news as Cook County prepares to borrow money: one bond-rating agency assigned a negative outlook to outstanding debt, largely because of growing unfunded pension liabilities, while another service gave the proposed bond issue a high rating.

The upshot, following an early analysis, is that the differing reviews won’t add taxpayer costs to borrowing $100 million for road work, said Owen Kilmer, a spokesman for County Board President Toni Preckwinkle.

But county officials view it as a sign that state legislative action is needed to address the county’s $4.7 billion unfunded pension tab. “This is a tell-tale sign of what happens when we have inaction on pension reform,” Kilmer said.

Commissioner Bridget Gainer, D-Chicago, who heads up a committee addressing the pension issue, agreed more work needs to be done, both at the state and county level. “There has been a lot of talk about it, and there hasn’t been a lot of action,” she said.

Lawmakers have been gridlocked on a pension fix for state government, and that means no solution has been passed for county or city government either.

In a written statement, Preckwinkle urged “all parties involved in this process to return to the negotiating table to produce a comprehensive pension reform solution.”
Moody’s maintained its Aa3 rating for the county’s debt, but changed the outlook from stable to negative, citing the unfunded pension liabilities, money issues at the county’s vast public health care system and Preckwinkle’s plan to kill off the last quarter-cent-on-the-dollar of her predecessor’s sales-tax increase.

But Standard & Poor’s gave the proposed bond issue for road work an initial AAA rating with a stable outlook, the best rating in years for county borrowing, Kilmer said. Fitch Ratings maintained the Aa3 debt rating with a stable outlook.

Kilmer attributed the higher Standard & Poor’s rating for the impending bond issue to the fact that debt will be backed by sales taxes, rather than gas taxes. Sales taxes are viewed as more stable.



Recent Headlines

Northbrook will revisit Cook County minimum wage ordinance in May
Sunday, November 18, 2018
Chicago Tribune

Suffredin: County to seek 'safeguards' for golf course road
Friday, November 16, 2018
Evanston NOW

She's been waiting 15 months for her rape kit to be processed. A new proposal to track evidence aims to change that.
Wednesday, November 14, 2018
Chicago Tribune

Preckwinkle to unveil policy roadmap for Cook County for next five years
Wednesday, November 14, 2018
Chicago Sun-Times

U.S. appeals judges: Go fight over lawsuits with Dorothy Brown in state court
Tuesday, November 13, 2018
Chicago Sun-Times

COMMENTARY: Here's how the Shakman case curbed Cook County patronage
Tuesday, November 13, 2018
Chicago Tribune

Appeals court backs Dorothy Brown in lawsuit over public access to electronic records, says judge overstepped authority
Tuesday, November 13, 2018
Chicago Tribune

What’s Next As Voters Overwhelmingly Support Higher Minimum Wage, Paid Sick Time
Monday, November 12, 2018
Journal and Topics Online

Cook County Board President Toni Preckwinkle's security chief fired after review spurred by watchdog report
Thursday, November 08, 2018
Chicago Tribune

An earlier opening day: 2019 Cook County forest preserves permits go on sale Nov. 15
Thursday, November 08, 2018
Chicago Tribune

Cook County opening 2019 picnic permit sales Nov. 15
Monday, November 05, 2018
Special to suffredin.org

The Cook County Land Bank looks to go commercial
Monday, November 05, 2018
RE Journal

Nov. 15 is new opening date for Cook County forest preserves permits
Monday, November 05, 2018
Daily Herald

Cook County Gun Dealer, Minimum Wage Referendums On Ballot
Monday, November 05, 2018
Patch

The Abandoned WWI Monument One Chicago Man Is Determined To Save
Friday, November 02, 2018
Chicago Patch

Cook County freed from federal oversight
Thursday, November 01, 2018
Chicago Daily Law Bulletin

First-of-its-kind trauma recovery center serves survivors of domestic violence, hate crimes, sexual assault, gun violence in Cook County
Monday, October 29, 2018
ABC 7

Northbrook opts in to Cook County paid sick leave ordinance, more uncertainty for employers, lawyer says
Monday, October 29, 2018
Cook County Record

First-of-its-kind Advocate Trauma Recovery Center serves survivors of domestic violence, hate crimes, sexual assault, gun violence in Cook County
Monday, October 29, 2018
WLS Channel 7

Cook County sheriff, CVS team up on safe prescription painkiller disposal
Saturday, October 27, 2018
Chicago Sun-Times

all news items

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