CHICAGO -- Mayor Richard Daley of Chicago yesterday presented to the city council a $3.5 billion proposed budget for fiscal 1995 that cuts business taxes, increases the number of police officers, and calls for a $150 million general obligation bond issue mainly for infrastructure projects.

In a budget speech that emphasized programs aimed at children, crime prevention, and business development, Daley said his plan would not raise property taxes, but relies instead on continued spending cuts, privatization, increased fees, and the elimination of tax loopholes.

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