Reuters
This article covers an announcement by Mayor Emanuel on April 29 that outlined steps the city will take in the next four years to address Chicago’s biggest financial challenges. These steps include ending the use of "scoop and toss" refunding bonds, eliminating derivative instruments known as swaps and rebuilding the City’s rainy day fund. The Civic Federation said these positive steps will reduce risk exposure for Chicago taxpayers, but will create additional costs in the short-term.