First you get the loan, then you get the sales tax . . . | Bleader

Wednesday, June 18, 2008

First you get the loan, then you get the sales tax . . .

Posted By on 06.18.08 at 10:01 AM

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So in order to keep Cook County from (allegedly) going broke between now and October when the new sales tax kicked in, we just borrowed $150 million, due at the end of 2009, which should put us on the hook for up to $9 million in interest. Stroger broke a tie vote to make the call. The firm that's putting together the bond deal, well, I don't think I even need to say it.

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