US EditionMayor Brandon Johnson pushes CPS to refinance $240M in debt, experts warn of long-term risks
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Mayor Brandon Johnson pushes CPS to refinance $240M in debt, experts warn of long-term risks
The city is pushing Chicago Public Schools to refinance about $240 million in debt to balance its budget for the year, a move that some finance experts argue is fiscally irresponsible. In a briefing with reporters Tuesday, senior aides to Mayor Brandon Johnson said the district could get the money released out of an existing debt service fund, which school districts use to pay off debt similar to a mortgage or a construction loan on a house. CPS…
·Chicago, United States
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