Illinois Municipal Debt Problem

Understanding The Market For State And Local Debt
John H. Altorfer, Peoria. Illinois F. Clifton White, Greenwich, Connecticut MEMBERS OF THE UNITED STATES SENATE Ernest F B-l New Municipal Debt by Month (1966-1975). B-2 Tax Rates and 20.Bond Index The recent financial problem of New York City ... Retrieve Doc

United States Senate Committee On Finance
Aggregate municipal debt. problems in a large state such as California or Illinois could damage the fiscal health of the United States. pension debt problem. Defined Benefit Plans are Inappropriate for State and Local Governments. ... Fetch Here

Pension debt More Than Doubles - Illinois Policy Institute
The problem Illinois reports that it owes $83 billion to its five public pension funds. such as the yield on high-grade municipal bonds, The longer the state waits to reform its massive retirement debt problem, ... View This Document

MUNICIPAL RESEARCH SPECIAL REPORT States’ Pensions: A ...
(California, Illinois, Massachusetts, and New Jersey), providing estimates How Can States Address the “Pension Problem”? “State and Municipal Debt: The Coming Crisis?”) and public pension plan legislation (e.g., May 5, ... Document Viewer

LLINOIS FFICIAL EPORTS
Indicated for outstanding debt owed to the City of Chicago. the Illinois Municipal Code (65 ILCS 5/3.1-10-5(b) (West 2010)) at the time she filed her The problem with this statement is that the “system” worked in such a way ... View This Document

Inactive Member Fundamentals Newsletter V7n1 Spring 2008
Illinois Municipal Retirement Fund Inactive Member Edition Fundamentals Sound worrisome? have credit card or other debt? future—resolving a problem now may save you time and aggravation down the road. ... Visit Document

STATE AND MUNICIPAL DEBT: THE COMING CRISIS?
STATE AND MUNICIPAL DEBT: THE COMING CRISIS? HEARING BEFORE THE SUBCOMMITTEE ON TARP, FINANCIAL SERVICES AND BAILOUTS OF PUBLIC AND PRIVATE PROGRAMS Mr. Chairman I don’t want an Illinois problem or a New Jersey problem to become a national problem. These States have to insti- ... Fetch Here

Don’t Leave Your Retirement To Chance. Start Planning Now.
Concentrate on paying down debt,like your mortgage. Your 50s Illinois Municipal Retirement Fund Inactive Member Edition. 2 Retirement Essentials Verify your personal data: a problem now may save you time and aggravation down the road. ... Document Viewer

Unfunded Pension Obligations: Is Chapter 9 The Ultimate ...
OPEB Problem (Without Resorting to a Court Proceeding) Illinois –specific authorization solely for the Illinois Power Agency (20 Ill Comp. How Is Municipal Debt Treated in a Chapter 9 Proceeding? (Priority of Payment) ... Get Doc

State And Local Government Debt Is Soaring
Term municipal debt and revenue bonds are 61 percent.4 Revenue bonds are financed by receipts of future taxes, fees, lease payments, Another problem with debt is that mixing big government with big finance usually causes corruption. ... Fetch Full Source

VILLAGE OF ARLINGTON HEIGHTS, ILLINOIS ADOPTED BUDGET-IN-BRIEF
CIP / DEBT SERVICE Capital Improvement the Village viewed this economic downturn as a long-term problem due to the failure of the country’s central financing systems. employees covered by the Illinois Municipal Retirement Fund (IMRF). Once again, the intent of ... Access Doc

Private Investment In US Infrastructure - A $2.2 Trillion ...
Inadequate. – US municipal, state and federal bond markets Illinois Holds Bills to Bar Downgrades, July 14, 2010. Public Funds are Inadequate to Fix the Problem – Gross federal debt (as opposed to public debt) is expected to ... Get Document

Mayoral Election: Brian O'Neill, Challenger
Nut Shell: To restore the integrity, leadership, and legislative structure of government to the City of Olney Government (entity) within the residing State of Illinois Government (Entity). ... Read News

Tax Exempt Municipal Bonds: Navigating And Finding ...
Owners (Chart 1) of most municipal debt are the largest single participant in the tax exempt market, (through direct ownership, problem, yet the scope of Illinois have known fiscal issues could likely dominate ... View Doc

The Federal Reserve Bank Of Chicago
Illinois Municipal Ret. Fund, 306 Ill.APP.3d 1139, 1142, prevent or impair the ability to resolve the problem B. The use of Chapter 9 – Municipal Debt Adjustment, Chapter 9 proceeding for municipal debt adjustment or, ... Access This Document

White Paper On Debt 072412 Final - Dan Rutherford - Illinois ...
So what’s the problem? The truth is Illinois faces an unprecedented financial crisis that is negatively impacting every resident and municipal bonds (see Appendix D), if Illinois was to go into the market with another bond These numbers show the stark reality of Illinois’ debt addiction. ... View Doc

Administration at the University of Illinois at Chicago. He may be reached at exacerbating the infrastructure condition problem. The last part of the paper revisits the municipal debt issuance, in part due to legal constraints; revenue ... Access Doc

SOLVING INSOLVENT PUBLIC PENSIONS: THE LIMITATIONS OF THE ...
Likely to be an increasingly frequent problem for municipalities across the 215 Illinois, Kentucky Forced to Sell Off Pension Assets, INSTITUTIONAL INVESTOR, Oct. 7, constitutions include municipal debt limits325 restricting the assumption of debt ... Fetch Doc