Chicago Mayor Rahm Emanuel Turns Down State Cash Advance For Schools

CHICAGO, Jun 29 (Reuters) – Chicago Mayor Rahm Emanuel on Monday incited down an offer by Illinois Governor Bruce Rauner to allege a mercantile 2016 state remuneration to a city’s cash-strapped propagandize complement to assistance make a grant payment.
“We conclude a governor’s gesture, though a use of this year’s dollars to compensate final year’s grant remuneration follows a same trail that got a schools into a stream financial mess,” pronounced a matter from Emanuel’s office.
It combined that a “real solution” was indispensable so that grant payments for all Illinois propagandize districts are treated a same way.
The Associated Press reported that a Illinois State Board of Education had identified $450 million in state grants due a Chicago Public Schools during mercantile 2016 that could be expelled this week.
The nation’s third-largest open propagandize complement is confronting a state-mandated $634 million remuneration to a teachers’ grant account on Tuesday. The Chicago Board of Education, that is allocated by a mayor, has authorized a devise to secretly place $200 million of taxation expectation records with J.P. Morgan Securities and presumably use a deduction for a grant payment.
Also, a check to check a grant remuneration for 40 days could come adult for another opinion in a Illinois House this week after unwell to pass final week.
(Reporting By Karen Pierog)

Article source: http://www.huffingtonpost.com/2015/06/29/chicago-mayor-pension-payments_n_7690262.html?utm_hp_ref=chicago&ir=Chicago