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CPS borrows $729M for capital projects; $215M pension fix expires

December 15, 2016

Chicago Public Schools was able to sell $729 million in bonds, which will be used to fund capital spending (i.e., overcrowding relief, school modernization, and critical repairs). However, this does not solve the issue of the $215 million that the district still needs to come up with for pension costs. Performance Trust muni strategist Brian Battle comments on the recent sale and why it does not solve the district's long-term problems.

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