The City Council Committee on Finance meets in chambers on Thursday, April 11, 2024. [Michael McDevitt/The Daily Line]

The City Council Committee on Finance on Thursday held its second subject matter hearing in several weeks on Mayor Brandon Johnson’s $1.25 billion proposed bond issuance to bolster existing housing, cultural and economic development programs citywide.

In response to questions and concerns raised during and after a March 22 finance committee hearing, a substitute bond ordinance (SO2024-0007838) was put forth that incorporates a number of new provisions related to transparency, fiscal responsibility and council authority over spending of the proposed bond proceeds.