Shockingly Bad Fiscal Health of Chicago (and the Financial Engineering Chicago Uses to Hide that Fact)
MishTalk
APRIL 1, 2015
The fund also includes tax increment financing revenues that flow to projects in designated TIF districts. The Chicago Skyway reserve funds were established in 2005 in the amount of $975 million. Chicago used interest rate swaps on its 2003, 2005, 2007, and 2009 bond deals, apparently as part of a synthetic fixed rate strategy. (
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