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Article: Chicago school authority outlines issuance plan to ease fiscal problems. (Chicago School Finance Authority)
- Article from:
- The Bond Buyer
- Article date:
- May 14, 1993
- Author:
CopyrightCOPYRIGHT 1993 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO -- The chairman of the Chicago School Finance Authority has unveiled a $1.35 billion bond-financed plan to alleviate financial problems faced by the Chicago Board of Education and other school districts in the state.
The Illinois Education Investment Act, which Martin Koldyke proposed on Wednesday, would enable the authority and the Chicago Board of Education to issue $392 million of state-guaranteed bonds to alleviate the school system's fiscal woes. The remaining $958 million of bonds would be issued by the state to finance the operations of school districts other than Chicago. Koldyke and other authority officials could not be reached for comment on ...