State loans Chicago $15 million to replace crumbing water system (Chicago Sun Times)

EXCERPT:

January 16, 2013 – Mayor Rahm Emanuel has already doubled water and sewer rates over four years to replace Chicago’s crumbling water mains, 900 miles of them a century-old. Now, he’ll be able to do that work even faster and more cheaply, thanks to a $15 million, low-interest loan from Gov. Pat Quinn’s $1 billion Clean Water Initiative. The city has tax-exempt bonding authority, but interest rates on the state loan are 1 percent lower, according to Water Management Commissioner Tom Powers.

Link to Full Article: http://www.suntimes.com/news/17613523-418/state-loans-city-15-million-to-replace-crumbing-pipes.html

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s