Chicago Mayor Richard Daley last week ordered city departments to cut non-personnel spending by 6% to save $11 million as economically sensitive revenues like the sales tax and real estate tax have failed to pick up.

The order affects all non-public safety departments. Daley also has told agency heads to keep spending level in their 2011 budget proposals unless there is a "compelling" reason to raise spending. A hiring freeze also remains in place.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.