Overview

• Mayor Brandon Johnson's $830 million bond proposal includes a back-loaded repayment plan, delaying principal payments until 2045 and increasing total costs by an estimated $2 billion by 2055.
• Municipal finance experts and critics, including State Comptroller Susana Mendoza, argue the plan shifts financial burdens to future generations and risks further credit downgrades for Chicago.
• City officials defend the repayment structure as standard practice, citing budget constraints and the need to maintain affordable annual debt service levels within the city's budget.
• The bond would fund critical infrastructure projects, including street repairs, bridge replacements, lead pipe removal, and new safety measures at high-crash intersections.
• The City Council is set to vote on the plan Wednesday, with some aldermen calling for adjustments to the repayment schedule or a reduction in the borrowing amount.