Kutak Rock Serves as Special Pension Disclosure Counsel to Cook County, IllinoisNews - Press Release | September 21, 2018
Kutak Rock attorneys recently served as special pension disclosure counsel to Cook County, Illinois in connection with its $175 million issuance. Proceeds from the offering, rated “AAA” from S&P Global Ratings and Kroll Bond Rating Agency, will be used to pay off roughly $125 million currently outstanding in a line of credit. The other $50 million will be used to finance upcoming projects in the County.
Cook County, home to Chicago and neighboring suburbs, is the second largest county in United States by population. It performs three principal functions: the protection of persons and property, the provision of public health services and the provision of general government services.
Kutak Rock served as special disclosure counsel to Cook County on two other deals in the last year: a $680 million sales tax securitization bond series and a $139 million general obligation bond series.
Kutak Rock public finance attorneys who served as special pension disclosure counsel in connection with the transaction included Raymond Fricke, John Schembari and Lance Tyson.