At the same Chicago City Council meeting where the council deferred a vote on Mayor Rahm Emanuel's Infrastructure Trust, Emanuel proposed a more traditional way to fund infrastructure: A proposed ordinance to approve up to $600 million in bonds for water and sewer repairs. The bonds will be used to repair and replace water mains, sewer catch basins, and pumping stations, reports the Chicago Tribune.

The bond is expected to be partly repaid through the city's plans to double Chicago household water bills by 2015. When Emanuel unveiled his budget last fall, the mayor anticipated that a 25 percent increase in 2012 water bills would produce $147 million in city revenue.