Liquidity and Financial Overview of Cook County
Debt Profile
The County has undertaken a long-term plan to manage its debt service
The County has $2.4 billion of General Obligation Bonds and $564.1 million of Sales Tax Revenue Bonds outstanding
11.4% of outstanding debt is floating rate with expiration of credit facilities in 2022 and no interest rate swap exposure
The County maintains a $175 million taxable line of credit for used for interim financing needs and an additional $100 million tax-
exempt revolver for liquidity and emergency purposes
County policy limits annual debt service growth to no more than 2% of previous years' budgeted amount until a $400 million
threshold is reached
County Debt Composition ($mm)
Variable Rate Debt Credit Facility Overview ($mm)1
($mm)
300
GO Variable
Rate, $360.6.
11%
ST Fixed_
Rate, $568.2,
18%
200
100
0
2022
2023
2024
As of November 30, 2021.
1.
2.
of Coo
Revolving Line of
Series
Type
Provider
Amount Expiration
Credit, $171.0,
6%
2014D
Line of Credit
PNC Bank
$175.0 11/1/2022
2004D
Letter of Credit
Barclays
$130.0 12/1/2022
GO Fixed
Rate,
$2,064.5,
65%
2012B
Credit
Agreement
2012A
Direct Purchase J.P. Morgan
$85.1
8/1/2024
Revolver
BMO Harris
$100.0
2/1/2025
Direct Purchase J.P. Morgan
$145.5 11/1/2028
General Obligation Debt Service Pre-Refunding (FYE 11/30)1,2
â– Principal
Interest
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
Authorized amount of Series 2014D Revolving Line of Credit is $175 million; authorized amount of Revolving Credit Agreement ("Tax-Exempt Revolver") with BMO Harris Bank is $100
million, none of which is outstanding.
Interest rate on variable rate bonds assumed to be 5% for the Series 2004D Bonds and the Series 2012B Bonds and 4.5% for the Series 2012A Bonds. Interest rate fixed to 1.00% for
the Series 2014C Bonds. No effect given to payments from the federal government in connection with "Build America Bonds".
CO
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