Chicago Plans $806 Million Refinancing Amid Budget Fight.

Chicago plans to sell $806 million in municipal bonds to refinance outstanding debt and close a budget gap of nearly $1 billion by year end. Mayor Brandon Johnson's proposed $300 million property-tax increase was rejected by city council members, leading to tensions and uncertainty for potential investors. The city's credit rating has stalled amid ongoing budget challenges, with ratings companies warning of credit downgrades. Despite the city's fiscal challenges, the municipal bond market remains stable, with investors showing strong demand for higher-yield debt. [Extracted from the article]