TITLE

Illinois $52 Billion Budget Adds Swaps, Internal Fund Transfers

AUTHOR(S)
Shields, Yvette
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/4/2003, Vol. 344 Issue 31649, p3
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that Illinois budget officials soon will have the ability to issue variable-rate debt and use swaps in bond deals, and the power to transfer money from internal funds, lesser-known provisions of the 52.4 billion dollar fiscal 2004 budget approved by lawmakers as of May 30, 2003. On the revenue side, the budget relies on proceeds from the sale of the tenth riverboat casino license and the leaseback of the state-owned James R. Thompson Center in Chicago and the Illinois State Toll Highway Authority headquarters. It includes borrowing for capital projects of just under two billion dollars in GOs and bonds backed by sales taxes.
ACCESSION #
10014734

 

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