Suburban Chicago governments rushing to issue bonds before a property tax cap goes into effect Oct. 1 are drawing fire from Gov. Jim Edgar and other proponents of the law.

The tax cap law, passed by the Illinois General Assembly last month, caps annual increases of property tax collections by nonhome-rule governments in five suburban counties to 5% or the rate of inflation, whichever is less. The law also requires the governments to get prior approval in a referendum to issue bonds backed by property taxes.

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