Mayor Lori Lightfoot wants to use just over half of the federal aid the city will receive to pay down debt, but federal rules may stand in her way. The U.S. Treasury Department may have thrown a monkey wrench into Mayor Lori Lightfoot’s plan to use more than half of the $1.9 billion avalanche of federal relief funds on the way to Chicago to retire $465 million in scoop-and-toss borrowing and cancel plans to borrow $500 million more.
Interim rules released this week identify several “ineligible uses” for the $350 billion being doled out to state and local governments.
They include […]
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