Chicago mayor’s team changes bond issue language as possible vote nears
 [February 26, 2025]
By Jim Talamonti | The Center Square
(The Center Square) – Chicago Mayor Brandon Johnson is insisting that
his reworked $830 million bond issue is critical to city infrastructure.
Chicago Chief Financial Officer Jill Jaworski said Tuesday that language
in the mayor’s proposal has been changed so that bond funds could only
be used for capital projects.
The move came after the mayor faced opposition from aldermen, who may
consider the issue at a meeting scheduled Wednesday at City Hall.
“This funding is needed to maintain the critical public safety and
public infrastructure systems that our residents rely upon,” Johnson
said.
The mayor said the need for investment is critical.
“So doing maintenance on a bridge is much more affordable than repairing
for a bridge collapse. The bond funds will also go towards the
Department of Water Management’s water and sewer main upgrades as well
as replacements to lead service lines,” Johnson added.
The mayor spoke with reporters a day after a new poll placed his
approval rating at a new low. In a survey of nearly 700 likely Chicago
voters last week, 3M Strategies found that almost 80% of respondents
disapproved of the job Johnson was doing.
City council members have offered more heated responses to the mayor’s
push for more borrowing in recent days. Aldermen had already expressed
concerns about the bond proposal after last year’s budget debate was
followed by a credit downgrade for the city.
Alderman Brendan Reilly called the mayor’s $830 million bond issue
“totally idiotic and fiscally derelict” in a post on X.
“No alderperson should vote for this complete nonsense,” Reilly posted.
Ward 3 Alderman Pat Dowell, a mayoral ally and chair of the city
council’s finance committee, issued a statement to her constituents last
Friday.
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Chicago Mayor Brandon Johnson
Chicago Mayor's Office | Facebook
“We cannot delay in issuing these bonds, because any delay deprives
Chicagoans of the infrastructure they rely on every day. With a
construction season that is already numbered, delaying
infrastructure improvements creates a snowball effect of
construction delays leaving aging infrastructure under construction
and under adverse conditions. Aldermen have a duty to the residents
of this city to provide them with the safe, accessible, and vital
infrastructure that makes Chicago what it is. Those speaking against
this issuance without providing an alternative plan or understanding
the impact on Chicagoans should do so knowing that nothing short of
the safety and accessibility of our City is at stake,” Dowell said.
Alderman Ray Lopez countered that nothing in the bond deal is
necessary, because the mayor already has multiple bond authorities
dating back to his predecessor, Lori Lightfoot. Lopez cited bond
deals from 2020 for $2.35 billion, 2021 for $660 million and 2022
for $1.85 billion. He said the funds should provide for everything
the mayor claims to need until 2027.
When asked what the city could do to improve its financial situation
and avoid additional credit downgrades, the mayor again pushed for
progressive revenue.
“What I have repeatedly called for is for our city and our state to
come together to ensure that working people are protected. The way
we do that is we have to challenge these large corporations. The
ultra-rich in this city and this state have to do more,” Johnson
said.
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