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Blue Island approves interfund borrowing after Cook County delays property tax bills
Summary
Facing delayed tax bills from Cook County, the council approved an ordinance authorizing interfund borrowing to cover cash‑flow needs and set a repayment target tied to year‑end; the measure passed 7–0 after council discussion about timing and statutory authority.
The Blue Island City Council voted Tuesday to authorize interfund borrowing to cover short‑term cash‑flow needs after Cook County delayed issuing property tax bills, a delay that has affected municipalities across the area.
Lauren, representing Hesperia's office, told the council that Cook County had not provided an estimate for when the second installment of property taxes would be distributed and that many municipalities are using short‑term borrowing or interfund…
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