# Appointment of successor servicer and assignment agreement execution between BNY Asset Solutions LLC and MTAG Services LLC regarding City's Special Assessment Improvement Bonds for Lakeshore East Project, Refunding Series 2022

[Votes](https://www.chicagopolitics.org/legislation) › [Finance](https://www.chicagopolitics.org/committee/finance)

- Record number: **O2026-0025435**
- Type: Ordinance; category: Bonds & Bond Issues
- Status: Final
- Sponsor: Johnson, Brandon
- Committee: [Committee on Finance](https://www.chicagopolitics.org/committee/finance)
- Introduction Date: May 20, 2026
- Final Action Date: Jun 17, 2026
- Official record: [Office of the City Clerk](https://chicityclerkelms.chicago.gov/Matter/?matterId=6DBF88F7-6654-F111-BEC6-001DD80B0E39)

## Roll call: Passed Jun 17, 2026

**49 yea, 0 nay, 1 absent.** On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed. Voted at the [City Council meeting of Jun 17, 2026](https://www.chicagopolitics.org/meeting/73347594-0E55-F111-BEC6-001DD80B0E39).

**Yea (49)**: [Daniel La Spata](https://www.chicagopolitics.org/ward/1) (1), [Brian Hopkins](https://www.chicagopolitics.org/ward/2) (2), [Pat Dowell](https://www.chicagopolitics.org/ward/3) (3), [Lamont J. Robinson](https://www.chicagopolitics.org/ward/4) (4), [Desmon C. Yancy](https://www.chicagopolitics.org/ward/5) (5), [William E. Hall](https://www.chicagopolitics.org/ward/6) (6), [Gregory I. Mitchell](https://www.chicagopolitics.org/ward/7) (7), [Michelle A. Harris](https://www.chicagopolitics.org/ward/8) (8), [Anthony Beale](https://www.chicagopolitics.org/ward/9) (9), [Peter Chico](https://www.chicagopolitics.org/ward/10) (10), [Nicole T. Lee](https://www.chicagopolitics.org/ward/11) (11), [Julia M. Ramirez](https://www.chicagopolitics.org/ward/12) (12), [Marty Quinn](https://www.chicagopolitics.org/ward/13) (13), [Jeylú B. Gutiérrez](https://www.chicagopolitics.org/ward/14) (14), [Raymond A. Lopez](https://www.chicagopolitics.org/ward/15) (15), [Stephanie D. Coleman](https://www.chicagopolitics.org/ward/16) (16), [David H. Moore](https://www.chicagopolitics.org/ward/17) (17), [Derrick G. Curtis](https://www.chicagopolitics.org/ward/18) (18), [Matthew J. O'Shea](https://www.chicagopolitics.org/ward/19) (19), [Jeanette B. Taylor](https://www.chicagopolitics.org/ward/20) (20), [Ronnie L. Mosley](https://www.chicagopolitics.org/ward/21) (21), [Michael D. Rodriguez](https://www.chicagopolitics.org/ward/22) (22), [Silvana Tabares](https://www.chicagopolitics.org/ward/23) (23), [Monique L. Scott](https://www.chicagopolitics.org/ward/24) (24), [Byron Sigcho-López](https://www.chicagopolitics.org/ward/25) (25), [Jessica L. Fuentes](https://www.chicagopolitics.org/ward/26) (26), [Walter R. Burnett](https://www.chicagopolitics.org/ward/27) (27), [Jason C. Ervin](https://www.chicagopolitics.org/ward/28) (28), [Chris Taliaferro](https://www.chicagopolitics.org/ward/29) (29), [Ruth Cruz](https://www.chicagopolitics.org/ward/30) (30), [Felix Cardona Jr.](https://www.chicagopolitics.org/ward/31) (31), [Scott Waguespack](https://www.chicagopolitics.org/ward/32) (32), [Rossana Rodríguez Sánchez](https://www.chicagopolitics.org/ward/33) (33), [William Conway](https://www.chicagopolitics.org/ward/34) (34), [Anthony J. Quezada](https://www.chicagopolitics.org/ward/35) (35), [Emma Mitts](https://www.chicagopolitics.org/ward/37) (37), [Nicholas Sposato](https://www.chicagopolitics.org/ward/38) (38), [Samantha Nugent](https://www.chicagopolitics.org/ward/39) (39), [Andre Vasquez Jr.](https://www.chicagopolitics.org/ward/40) (40), [Anthony V. Napolitano](https://www.chicagopolitics.org/ward/41) (41), [Brendan Reilly](https://www.chicagopolitics.org/ward/42) (42), [Timothy R. Knudsen](https://www.chicagopolitics.org/ward/43) (43), [Bennett R. Lawson](https://www.chicagopolitics.org/ward/44) (44), [James M. Gardiner](https://www.chicagopolitics.org/ward/45) (45), [Angela Clay](https://www.chicagopolitics.org/ward/46) (46), [Matthew J. Martin](https://www.chicagopolitics.org/ward/47) (47), [Leni Manaa-Hoppenworth](https://www.chicagopolitics.org/ward/48) (48), [Maria E. Hadden](https://www.chicagopolitics.org/ward/49) (49), [Debra L. Silverstein](https://www.chicagopolitics.org/ward/50) (50)

**Absent (1)**: [Gilbert Villegas](https://www.chicagopolitics.org/ward/36) (36)

## Plain-language summary

> Written by AI (claude-opus-5-5) from the ordinance text only: [O2026-0025435 C.L..pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/a504659f-8f14-4958-bdda-77c93edcf7e6.pdf). AI can make mistakes; the official document always wins.

This is a Finance Committee report recommending that the City Council pass an ordinance about the City's Special Assessment Improvement Bonds for the Lakeshore East Project, Refunding Series 2022. The ordinance would appoint a new (successor) servicer for the bonds and approve an Assignment Agreement between BNY Asset Solutions LLC and MTAG Services, LLC. The committee approved the recommendation by voice vote with no one voting against it.

- Authorizes appointing a successor servicer for the Lakeshore East Project Special Assessment Improvement Bonds, Refunding Series 2022.
- Approves executing an Assignment Agreement between BNY Asset Solutions LLC and MTAG Services, LLC.
- The Committee on Finance recommended that the full City Council pass the ordinance.
- The committee approved it by voice vote with no dissenting votes on June 15, 2026.
- The report is signed by Finance Committee Chairman Pat Dowell and dated June 17, 2026.

**Who**: This affects BNY Asset Solutions LLC, MTAG Services, LLC, and the City regarding its Lakeshore East Project special assessment bonds.

**Where**: Lakeshore East Project, 42nd Ward

## Timeline

- May 20, 2026: Recommended to Pass, Committee on Finance. The matter was recommended to Pass by controlling legislative body.
- May 20, 2026: Referred, City Council. The matter was Referred to Committee.
- Jun 17, 2026: Passed, City Council (49 yea, 0 nay), at the [City Council meeting](https://www.chicagopolitics.org/meeting/73347594-0E55-F111-BEC6-001DD80B0E39). On motion of Alderperson Dowell, and unsuccessful motion to reconsider by Alderperson Mitchell, the matter was Passed.
- Jun 17, 2026: Signed by Mayor, City Council. The matter was Signed by the Mayor.
- Jul 15, 2026: Published in Special Pamphlet, City Council. The matter was Published in Special Pamphlet on June 24, 2026.

## Documents

- [O2026-0025435 EDS\_REVISED\_Redacted.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/e6f145e5-962f-4df7-be50-73105883f801.pdf) (EDS)
- [O2026-0025435 Ordinance.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/65524c0f-9854-43aa-9645-e2a7bbc4b3f8.pdf) (Legislation)
- [O2026-0025435 Mayoral Letter.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/7484197b-416b-4023-91f2-b51dfb7fd446.pdf) (Miscellaneous)
- [O2026-0025435 C.L..pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/a504659f-8f14-4958-bdda-77c93edcf7e6.pdf) (Committee Letter)
- [O2026-0025435 SIGNED.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/734f2eb3-69ee-4473-aa6f-256465e784ee.pdf) (Legislation)
- [O2026-0025435 Exhibit A.pdf](https://www.chicagopolitics.org/files/clerk/matterattachmentspublic/71f0b4d1-fef1-48e9-ae9e-42b0ce25bd94.pdf) (Exhibits)

## Related legislation

**More from Johnson, Brandon**

- [Executive Order No. 2026-7 (Senior Bill of Rights and Establishing the Mayor's Office on Aging)](https://www.chicagopolitics.org/matter/F2026-0029547-executive-order-no-senior-bill-rights) (F2026-0029547, introduced Dec 8, 2026, Placed on File)
- [Issuance of general obligation bonds (2027-2028 General Obligation Borrowing Ordinance)](https://www.chicagopolitics.org/matter/O2026-0029650-issuance-general-obligation-bonds-general-obligation) (O2026-0029650, introduced Oct 21, 2026, Referred)
- [Fiscal Year 2027 Budget Recommendations](https://www.chicagopolitics.org/matter/O2026-0029642-fiscal-year-2027-budget-recommendations) (O2026-0029642, introduced Oct 21, 2026, Referred)

**More on Bonds & Bond Issues**

- [City of Chicago Fifth Supplemental Indenture and issuance of Second Lien Wastewater Transmission Revenue Bonds, Project and Refunding…](https://www.chicagopolitics.org/matter/O2026-0029409-city-chicago-fifth-supplemental-indenture-issuance) (O2026-0029409, introduced Oct 14, 2026, Referred)
- [Authorization to utilize proceeds from 2024 Bond Funds for working families to purchase new construction affordable homes produced by…](https://www.chicagopolitics.org/matter/O2026-0029209-authorization-utilize-proceeds-2024-bond-funds) (O2026-0029209, introduced Oct 14, 2026, Referred)
- [Issuance of Chicago O'Hare International Airport Senior Lien Revenue Bonds](https://www.chicagopolitics.org/matter/O2026-0026370-issuance-chicago-ohare-international-airport-senior) (O2026-0026370, introduced Jun 17, 2026, Passed)

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Source: https://www.chicagopolitics.org/matter/O2026-0025435-appointment-successor-servicer-assignment-agreement · Chicago Politics, an independent tracker of the Chicago City Council. Guide for agents: https://www.chicagopolitics.org/llms.txt