Pension obligation bond

The referendum passed Tuesday by a 70% to 30% margin an an election with miniscule turnout.

A spike in POB issuance last year that was spurred by low interest rates, roaring stock markets, and other factors is likely to wane.

Mayor Jorge Elorza said the reworked bond proposal was better than the larger one put before the state Legislature last year.

The Metropolitan Water Reclamation District of Chicago now has $600 million of pension obligation bond authority as it aims for a 100% funded ratio by 2050.

Illinois' nearly exhausted $1 billion of GO bonding authority for existing pension buyout programs would get a $1 billion infusion under pending legislation.

Skokie held on to its double-A tier ratings as it preps a pension obligation bond issue to bring its public safety pension funding ratios to 90%.

The Chicago suburb is planning a nearly $100 million issue to refund, restructure debt and pay down its unfunded public safety pension obligations.

There are $8.127 billion of negotiated deals on tap and a mere $367.4 million of competitive loans slated, none over $100 million. Thirty-day visible supply totals $9.9 billion and net negative supply is at $8.4 billion.

Quincy officials say they are getting out front of a state directive for full local funding by 2037.

Illinois local governments weighed down by rising public safety pension contributions are turning to pension obligation bonds.