City of Chicago, IL

Mayor Lori Lightfoot wants to use $1.3 billion of the city's $1.9 billion in coronavirus relief aid to make up for lost revenues.

Some Chicago council members questioned Mayor Lori Lightfoot's plans to use federal funds to back off scoop-and-toss restructuring plans with the demand so high for more social and human services and anti-crime spending.

Kroll Bond Rating Agency also affirmed the city’s general obligation bond rating at A.

Refinancing savings and federal relief will fill Chicago's $1 billion 2021 hole while the city ponders how to erase a $733 million gap next year as its budget takes shape.

Chicago is accepting underwriter qualifications as it updates its investment banking pool; it also delayed the bidding deadline for potential casino developers.

Federal relief and rising revenues drew a change in outlook from Moody's to stable from negative, but Moody's remains the only agency to rate Chicago at junk.

Chicago is looking for a financial advisor to help it assess casino development proposals due next month.

Chicago's net pension liabilities increased by $1.1 billion in 2020 to almost $33 billion.

Like the city's pension funding revisions, the park district's plan ramps up to actuarial payments but it's alone in aiming for a 100% funding target.

The authority will scoop-and-toss some near-term debt to avoid a shortfall that would force Chicago to dig into its own pockets to cover a hotel tax shortfall.