Monday, October 24, 2016

(CPS) Chicago Public Schools plans to borrow as much as $1 BILLION DOLLARS for new school construction due to Chicago Illegal Beaner Expansion

Chicago Public Schools officials are moving ahead with plans to add hundreds of millions of dollars in debt to the district's books, setting up a blitz of construction projects.

The Chicago Board of Education on Wednesday is expected to approve borrowing as much as $840 million. But CPS won't tell the public what it plans to spend the money on until after the district goes to market for the new bonds.

In addition, the school board also is set to vote on issuing an additional $160 million in bonds to re-finance some of its old debt.

CPS' financial reputation has been a regular target for Wall Street analysts, a point reiterated by last month's decision by Moody's Investors Service to drop the district's bond rating further into junk status. That could cost CPS more money when it sells new bonds.

The construction loans would be repaid with money generated by a City Council-approved pool of property tax dollars earmarked for school infrastructure. While the district is treading water financially, a building program is likely to be politically popular throughout much of the city.

CPS has said the bonds would pay for renovation and construction projects, as well as equipment purchases. The district already has proposed a $338 million capital budget to be financed partly with $233 million in borrowing against the recently enacted property tax levy for school projects.

The school board also has to revise its spending plan to make room for a tentative deal reached this month with the Chicago Teachers Union, but that's not on the agenda for Wednesday's meeting. Hundreds of school-based union leaders endorsed a recent tentative agreement, sending it on for a final vote this week by the CTU's rank and file.

The district still hasn't laid out the deal's effects on a budget that also assumes state lawmakers will come through with more than $200 million. But budget revisions require the district to carry out a new series of public hearings. It's not clear when that will happen, as the district said hearing dates won't be announced after union members vote on the contract.

On Dec. 7, the school board is expected to take up the revised budget after canceling a scheduled November meeting.

26 comments:

stash the polski guy said...

fucking morons on a spending spree with money they don't have. better if the sanctuary city built cinder block housing in niggertowh where the 50 closed schools sit empty.

Anonymous said...

The politicians need to be strung up like Mussolini for what they did to this country.

Anonymous said...

This communist mother fucker.

Teresa Howell said...

I saw testimonies online on how Dr Osun helped people in winning huge amount in lottery, so I decided to contact him for Florida lotto winning numbers he gave me without any delay and I won FOUR MILLION DOLLARS ($4.000, 000.00) I have confirmed Dr Osun real and guaranteed Contact Him on faithfullovespell@yahoo.com or call him on +2347035519489.his Web site: http://faithfullovespell.wix.com/dr-osun He will help you. TERESA HOWELL

Anonymous said...

Shave give Forrest a call and see if he'll lend you one of his toupees. How do you do it? Only thing on your body thinning his your hair. Is that from more dominant males pulling it while fucking your poo poo?

Anonymous said...

The schools should be built to grade school standards in Mexico. Cinder Block with straw roofing.

Anonymous said...

More re-education centers run by jews and fat ladies to brainwash niggers and spics to destroy America more than they already have.

Anonymous said...

Not to worry when the EBT cards all expire on 01/20/2017 there will be plenty of tax monies available!

Anonymous said...

If we are already in the fucking hole why are we borrowing money to build new schools? Oh wait...the politicians have to keep the connected contractors busy so they kick back money in donations to their political war chests. Unfuckingreal!

Anonymous said...

Those pesky beaners yet again !

Anonymous said...

Here's the easier solution, send them all back south of the border.
Barring that, dump them in the FEMA camps the FED has made in secret
and we all know about them. ( Good job keeping that secret
Uncle Scam!)

The Keesing Bandit said...

Sure. Spend more of what you haven't got.

Anonymous said...

Borrow money to pay Bourbon street waitresses for years of no tipping in cpd no tipping section

Anonymous said...

We will cut all federal funding to sanctuary cities.
Trump

Anonymous said...

NEW SCHOOLS BEING BUILT FOR THE MANY MESSICANS IN THAT BEANER INFESTED BARIO THEY CALL GARCIA RIDGE.

Anonymous said...

Who watches the watcher.......

MEGYN KELLY IS A CUNT said...

CPS issuing more bonds?

What fool will lend money that will not be repaid?

Anonymous said...

Cicero had to build the largest junior high school in the state, in order to accommodate the fast growing Mexican population. But, but, the cheap labor offsets that right? Not even close. California had to close over 80 hospitals and build a new school every month because of this nonsense. Weaponized immigration. You knew it was a weapon, right?

Anonymous said...

Communist re Distribution of Wealth, and Theft of Middle Class White Taxpayer Dollars. Wheres the improvement here, other than into the Femocommunist Politicians Wallets ?

Anonymous said...

More $$$ down the rat hole and into the coffers of the glad handers.
Business as usual. Got to keep lining those pockets.

Anonymous said...

Bourbon jokes are duds. Nothing to see here. Move on.

Anonymous said...

How did a school system, that makes no money, that gets all its money thru taxes that are supposed to be collected every year to fund them get a credit card? Why would the state which funds the school systems allow them to borrow money at interest? Who let's this shit fly? Madigan I'm talking to you

Anonymous said...

Do you see me tearing your ass lips while I'm butt fucking you with my eleven inch dong Teresa Howell ?

Hohohohohoh !

Take that bitch !

Anonymous said...

TAKE IT ALL YOU FILTHY WHORE

Anonymous said...

He looks almost human.

Anonymous said...

They're certainly confident about all this. They should consider the fact that President Trump is going to kick 40 million brown asses back to Mexico and no one will need the new schools.