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:  
   
 
 

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 Law Library is the second largest County law library in the nation.
   
     
     
     



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

DLA Piper advises group of developers on purchase of Old Cook County Hospital
Friday, January 19, 2018
Special to suffredin.org

Cook County Sheriff's office launching email helpline for opioid antidote drug
Thursday, January 18, 2018
Chicago Tribune

Cook County Hospital System Considers Selling Rights To Money Owed To It
Thursday, January 18, 2018
WBEZ Chicago Public Radio

Restoration on Cook County Hospital could begin this summer
Tuesday, January 16, 2018
Curbed Chicago

EDITORIAL: Foxx should steer clear of donations from property tax lawyers
Tuesday, January 16, 2018
Chicago Sun-Times

26 inmates charged with violence toward guards at Cook County Jail
Saturday, January 13, 2018
Chicago Tribune

Cook County assessor not cooperating with investigation, IG complains
Saturday, January 13, 2018
Chicago Tribune

WASHINGTON: County repeal of soda tax was a mortal mistake
Friday, January 12, 2018
Chicago Sun-Times

SNEED EXCLUSIVE: Developer plans to make old county hospital a community anchor
Friday, January 12, 2018
Chicago Sun-Times

Western Springs Board reconsiders opting out of county minimum wage law
Friday, January 12, 2018
Chicago Tribune

Why more Chicago hospitals are getting into the housing business
Thursday, January 11, 2018
Crain's Chicago Business

Chicago hospitals help lower health care bills by housing the homeless
Thursday, January 11, 2018
Chicago Tribune

Dorothy Brown runs out of excuses on e-filing
Wednesday, January 10, 2018
Chicago Tribune

Ethics board fines Cook County assessor $41,000 over political donations from lawyers
Wednesday, January 10, 2018
Chicago Tribune

County wants seniors to confirm they’re still seniors
Wednesday, January 10, 2018
Evanston Now

Cook County Circuit Court Clerk Dorothy Brown ordered to improve public access to electronic records
Tuesday, January 09, 2018
Chicago Tribune

Foxx focuses on ‘bigger picture’ in first year as state’s attorney
Tuesday, January 09, 2018
Chicago Sun-Times

As disparity in water rates persists, Cook County Board searches for answers
Tuesday, January 09, 2018
Chicago Tribune

Kim Foxx Concerned With ‘Justice, Not Convictions’
Monday, January 08, 2018
CBS Chicago

Foxx on hiring of outside lawyers by top aide: 'We're going to look at it from soups to nuts'
Monday, January 08, 2018
Chicago Fox 32

all news items

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