Tuesday, August 16, 2016

Chicago Public Schools To Seeks to Borrow Up to $945 Million

The Chicago Sun-Times reports:
A cash-strapped Chicago Public Schools seeks to issue almost $1 billion in new bonds, the district announced in a public notice Tuesday.

The latest borrowing for the broke school system will be up to $945 million “for the purpose of financing the rehabilitation, renovation, construction and acquisition of school and administrative buildings and equipment, site improvements and other real and personal property, funding of contract obligations, the purchase of school grounds for the construction of or additions to school buildings and costs of issuance and other costs and reserves related to the foregoing.”
The high risk moments of government run education.