Welcome to the Reader‘s morning briefing for Monday, May 22, 2017.
Emanuel reveals plan to borrow $389 million to keep CPS schools open
Mayor Rahm Emanuel revealed his plan to borrow $389 million in order to keep Chicago Public Schools in session through the end of the 2016-2017 school year and to make a payment to the teachers’ pension fund Friday. The Chicago Board of Education will have to approve the city’s borrowing $389 million and borrowing against the $467 million that Illinois owes the district this week. [DNAinfo Chicago]