Monday, July 31, 2017


CPS' latest borrowing deal: $500 million in loans, $850 million in interest and years more of debt

The loan adds to the mountain of interest costs CPS has taken on to deal with its ongoing cash crisis and lack of adequate reserves. The bonds were issued not long after the district took out short-term loans to cover delayed state grants that the Tribune reported cost CPS $70,000 a day in interest.

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