The Illinois General Assembly has passed a measure that would allow the Chicago Park District to issue $128 million of general obligation bonds to finance improvements to city museums and cultural institutions, according to Hugo Alunni, the park district's superintendent of finance.
Alunni said that the debt would be divided into four issues over the next decade if Gov. Jim Edgar signs the measure. He said that the first issue, a $36 million offering, is scheduled for next spring. The park district's board of commissioners would be required to approve each issue.