The Chicago Tribune

If CPS Ever Misses a Debt Payment, Property Owners Would See Taxes Jump

March 17, 2016

Chicago Public Schools’ financial problems raise difficult questions for leaders of the school system. In the event of a missed debt payment on certain obligations, a contract provision may trigger an automatic tax increase in order to pay creditors. In an interview with The Chicago Tribune, Jim Spiotto discussed municipal borrowing and burdens on taxpayers.

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