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City approves Olympic host city contract

Updated: September 9, 2009, 6:08 PM ET
Associated Press

CHICAGO -- The City Council unanimously agreed Wednesday to take full financial responsibility if Chicago is awarded the 2016 Summer Olympics, a guarantee the local bid leader said leveled the field because the other three candidates already have government backing.

The council voted 49-0 to authorize Mayor Richard Daley to sign the International Olympic Committee's host city contract that puts taxpayers on the hook for the Olympics and a proposed $4.8 billion operating budget.

"We ...

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