TITLE

Illinois OKs Merger Of 7 Agencies

AUTHOR(S)
Shields, Yvette
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/11/2003, Vol. 344 Issue 31654, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Illinois' General Assembly approved a bill to merge the seven statewide conduit borrowing agencies in the state into one newly created entity Illinois Finance Authority on January 1, 2004. It is unclear just how the agencies will be consolidated from a logistical and technical standpoint, including where they will be housed and who will serve on boards. Some market participants worry that the creation of one authority will cause a monopoly that may lead the state to raise fees for borrowers. Some market participants have said the move will free up various reserve accounts totaling about $10 million for the cash-strapped state.
ACCESSION #
10104636

 

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