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This record contains private information, which has been redacted from public viewing.
Record #: O2022-3593   
Type: Ordinance Status: Passed
Intro date: 10/26/2022 Current Controlling Legislative Body: Committee on Finance
Final action: 11/7/2022
Title: Issuance of general obligation bonds for New Money Purposes, Second Lien Water Revenue WIFIA Project Bonds, Series 2022, increase in borrowing authorization of O'Hare Commercial Paper and O'Hare Line of Credit programs, establishment of Midway Line of Credit program, and amendment of various bond ordinances
Sponsors: Lightfoot, Lori E.
Attachments: 1. O2022-3593.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT MAYOR
October 26. 2022










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request ofthe Chief Financial Officer, 1 transmit herewith an ordinance authorizing the issuance of various new bonds and amending various bond ordinances.

Your favorable consideration of this ordinance will be appreciated.


Very truly yours.

Mayor
ORDINANCE
WHEREAS, the City of Chicago (the "City) is a duly constituted and existing municipality within the meaning of Section 1 of Article VII of the 1970 Constitution (the "Constitution') of the State of Illinois (the "State") having a population in excess of 25,000 and is a home rule unit of local government under Section 6(a) of Article VII ofthe Constitution; and
WHEREAS, in accordance with the provisions of Section 6(a) of Article VII of the Constitution, the City may exercise any power and perform any function pertaining to its government and affairs, including the power to tax and the power to incur debt; and
WHEREAS, the City has determined that it is in the best interests ofthe inhabitants ofthe City and necessary for the welfare of the government and affairs of the City to implement a plan to provide for the financing of (i) public right-of-way improvements in City neighborhoods, including street and alley construction and improvements, lighting improvements, sidewalk improvements and replacements, curb and gutter repairs and replacements and environmental remediation; (ii) infrastructure improvements to enhance the development of economic activity, including industrial street construction and improvements, streetscaping, median landscaping, telecommunications facilities or equipment, demolition of hazardous, vacant or dilapidated buildings that pose a threat to public safety and welfare, shoreline reconstruction, waterway improvements, Water System (as hereinafter defined) improvements, sewer improvements, environmental improvement...

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