CHICAGO - Two years after Mayor Richard Daley of Chicago began playing Santa Claus with money that underwriters planned to spend on closing dinners for bond deals, few issuers have followed his lead.

Bond firm officials could identify only two other municipal issuers that have required underwriters to give the money to charities - Denver and Cook County, Ill. Since Daley announced the requirement in 1990, Chicago has distributed nearly $200,000 to charitable organizations.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.