Summary

Committee on Finance Passes Four Ordinances on Taxes, Bonds, and Municipal Code Amendments

ChicagoDec 16, 20251 min read

At a glance

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The Committee on Finance approved four key items on December 16, 2025, including the Fiscal Year 2026 tax levy, general obligation bonds, refunding bonds, and amendments to multiple titles of the Municipal Code, to be submitted to the City Council on December 18, 2025.

Committees mentioned

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Committee on Finance

Topics discussed

Fiscal Year 2026 Tax LevyRefunding BondsGeneral Obligation BondsMunicipal code amendmentsBudget & Tax

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Key decisions

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Approved substitute ordinance authorizing the levy of real estate taxes for the City of Chicago for Fiscal Year 2026 (SO2025-0021095).
Approved ordinance authorizing the issuance of City general obligation bonds (2026-2027 General Obligation Borrowing Ordinance) (O2025-0021097).
Approved ordinance authorizing the issuance of City general obligation bonds and/or Sales Tax Securitization Corporation sales tax revenue bonds for refunding (O2025-0021096).
Approved substitute ordinance amending Titles 1, 3, 4, 7, 8, 9, 10, 11, 14A, 14B, 14X, and 15 of the Municipal Code, introduced by Alderman Matthew O’Shea and others (SO2025-0021719).

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Meeting information

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