Suffredin- An Advocate for All of Us  
 

Accountability
Forest Preserves
Public Safety
Cook County Budget
Forest Pres. Budget
Property Tax Appeal
Health & Hospitals
Land Bank Authority
Policy Resolutions
Unsung Heroine

 

   
 
   
   
 
   
     
  Office phone numbers:  
   
 
 

The Cook County Code of Ordinances are the current laws of Cook County.

   
 

Search current and proposed Cook County Legislation in Larry's exclusive legislative library.

   
  Cook County is the second most populous county in the nation. It is the 19th largest government in the U.S.
   
     
     
     



County seeking $200 mil. loan

Saturday, July 08, 2006
Chicago Sun-Times
by STEVE PATTERSON

Twelve weeks ago, Cook County chief of staff James Whigham -- running the county's day-to-day operations -- flatly denied the county was in such dire financial straits that it would have to borrow money to make ends meet.
Friday, things changed.
For the first time in more than a decade, Cook County must borrow to help pay the bills.
According to an ordinance delivered to commissioners, they will be asked Wednesday to allow the county to seek a $200 million loan.
"We were arrogantly told everything was OK," Commissioner Mike Quigley said. "It wasn't."
The request from county chief financial officer Thomas Glaser outlines terms that call for the county to pay the loan back over 18 months, at 10 percent interest.
That will allow for "timely payment of general county expenses," Glaser's request says.
Multiple county contractors have been grumbling in recent months about delays in being paid.
Glaser's request cites delays in the county receiving its share of state funds for general county and hospital expenses.
If approved, the $200 million would represent about 6.6 percent of the county's $3 billion budget.
Titanic comparisons last month
County officials did not respond to requests for comment, but just last month, Glaser compared county finances to the Titanic, telling commissioners he sees "icebergs floating" and "I have my life preserver on."
The request to borrow funds comes three months after Crain's Chicago Business reported the county was asking local banks about a loan -- and Whigham scoffed at the report.
"Either [officials] didn't want to be totally candid with us or they didn't see it coming, which would be an even greater concern," said Commissioner Peter Silvestri. "Nothing good comes from this."
The request is likely to embolden a county board already feeling more independent in the wake of John Stroger's resignation last week as board president.
His resignation, effective July 31, prompted a flurry of filings by commissioners, demanding greater financial accountability -- most of it aimed at the county hospitals.
Last month, records showed the bureau of health was falling substantially short in revenues, driving projections of a county budget deficit to more than $88 million.


Recent Headlines

A Naturalist’s 2020 Quest: Find 2,500 Living Things In The Wilds Of Cook County
Thursday, August 13, 2020
WBEZ News

Coronavirus in Illinois updates: 1,645 new known COVID-19 cases reported as state releases $46 million from federal relief act to 2,655 small businesses
Wednesday, August 12, 2020
Chicago Tribune

Chief Judge Orders Cook County Courtrooms Closed After Looting
Wednesday, August 12, 2020
Chicago Crusader

Coronavirus trends in Illinois not looking good: ‘My concern is growing each day,’ says public health director
Wednesday, August 12, 2020
Chicago Tribune

Cook County's Travel Quarantine List Updated to Include 20 Locations
Wednesday, August 12, 2020
ABC 7 Eyewitness News

Looting has city, county, state officials pointing fingers in all directions
Tuesday, August 11, 2020
The Daily Line

Coronavirus in Illinois updates: 3 states removed from Chicago’s travel quarantine list; 1,549 new confirmed cases, 20 deaths reported
Tuesday, August 11, 2020
Chicago Tribune

County, federal courts closed today
Monday, August 10, 2020
Chicago Daily Law Bulletin

State’s Attorney Kim Foxx bristles at insinuation her office’s handling of earlier cases emboldened looters
Monday, August 10, 2020
Chicago Tribune

Foxx bashes ‘dishonest blame games,’ calls for ‘honest conversation’ after night of looting
Monday, August 10, 2020
Chicago Sun-Times

Chicago needs leaders, not elected officials looking for scapegoats
Monday, August 10, 2020
Chicago Sun-Times

Foxx Pushes Back on Criticism From Lightfoot, Brown After Looting
Monday, August 10, 2020
WTTW News

New Cook County ethics rules due for September resurrection as appointed board nears 6-month hiatus
Monday, August 10, 2020
The Daily Line

Kim Foxx drops more felony cases as Cook County state’s attorney than her predecessor, Tribune analysis shows
Monday, August 10, 2020
Chicago Tribune

How we analyzed Cook County State’s Attorney Kim Foxx’s record on dropped cases
Monday, August 10, 2020
Chicago Tribune

State offering $5,000 grants for tenants struggling to pay rent amid pandemic. Here’s how to apply
Monday, August 10, 2020

Preckwinkle: Dramatic rise in suicides among Cook County's Black population
Sunday, August 09, 2020
Daily Herald

1,382 New COVID-19 Cases in Illinois, 8 Additional Deaths
Sunday, August 09, 2020
WTTW News

‘The need remains critical’: Rent and mortgage relief arrives as state, county announce $320 million in grants
Saturday, August 08, 2020
Chicago Tribune

Preckwinkle Announces COVID-19 Recovery Rental Assistance Program
Saturday, August 08, 2020
Journal and Topics Online

all news items

Paid for by Larry Suffredin and not at taxpayer expense. A Haymarket Production.
^ TOP