CHICAGO — The new administration in Cook County, Ill., has picked its first bond team, relying almost exclusively on locally based and minority-owned firms.

The administration submitted the finance team for approval to the county Board of Commissioners Tuesday morning. The board is expected to vote on the ordinance July 27. The bill also authorizes the county to refund up to $900 million of general obligation bonds over the next two years to achieve budget savings. Cook has $3.5 billion of outstanding debt.

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