Mayor Brandon Johnson's bond refinancing plan passes after stalling effort by opponents [Yahoo! Finance]
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Source: Yahoo! Finance
The bid to take advantage of lower interest rates passed in a 35-to-12 vote. City finance leaders estimate the move will save Chicago $90 million this year and another $35 million next year without loading the city up with additional debt. “We know if we do a refinancing deal, we are going to save money. And we've been pretty conservative in our estimates,” Chief Financial Officer Jill Jaworski said. But while Johnson's team celebrated the refinancing plan's passage, the mayor surely expected aldermanic approval would have come even earlier. The mayor sought to pass the plan two weeks ago, a timeline set to clear the way for Chief Financial Officer Jill Jaworski to bring it to market before the November election. However, when the issue came to the council in early October, opponents of the mayor used a parliamentary maneuver to delay its consideration. Later in that same meeting, Ald. Anthony Beale, 9th, another typical Johnson foe, used another tactic to sideline a host of
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