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:  
   
 
 

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.
   
     
     
     



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

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

Settlement over Cook County's 2007 decision to cut inmates' dental care will cost nearly $5.3 million
Wednesday, September 12, 2018
Chicago Tribune

Anti-patronage Shakman pact requiring federal oversight of Cook County hiring, firing to end
Friday, August 31, 2018
Chicago Tribune

1st District upholds merit board in firing of deputy
Thursday, August 30, 2018
Chicago Daily Law Bulletin

Neighborhood program helps Cook County residents buy homes
Sunday, August 26, 2018
Chicago Sun-Times

Judge upholds Cook County firearm, ammunition taxes
Thursday, August 23, 2018
Chicago Daily Law Bulletin

Editorial: E-filing should make Cook County courts more accessible. It doesn't
Wednesday, August 22, 2018
Chicago Tribune

Cook County tax incentive could pave way for Wingstop, Dunkin' Donuts on Elgin's Summit Street
Tuesday, August 21, 2018
Chicago Tribune

Editorial: What happened to the elk?
Friday, August 10, 2018
Chicago Tribune

Wells Fargo to offer $15,000 grants to potential Cook County homebuyers
Thursday, August 09, 2018
Chicago Tribune

Suit alleges Cook County detainees secretly monitored in bathrooms in holding cells at courthouses
Wednesday, August 08, 2018
Chicago Tribune

Half the elk at Busse Woods died last year, and officials aren’t sure why
Tuesday, August 07, 2018
Chicago Tribune

A letter from Dr. Jay Shannon regarding gun violence and Stroger Hospital
Tuesday, August 07, 2018
Special to suffredin.org

As Evanston adapts to minimum wage hike, nearby towns say they have no plan to join in
Tuesday, August 07, 2018
Chicago Tribune

Lawsuit could blast a $250 million hole in county budget
Monday, August 06, 2018
Crain's Chicago Business

Pappas: Automatic refunds of $19.5 million going to 53,000 homeowners because of property tax cuts
Monday, August 06, 2018
Special to suffredin.org

Thousands of Cook County homeowners to receive property tax refunds
Monday, August 06, 2018
Chicago Sun-Times

all news items

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