TITLE

Illinois Putting Moral Obligation Pledge Behind $300 Million of Coal Bonds

AUTHOR(S)
Shields, Yvette
PUB. DATE
July 2003
SOURCE
Bond Buyer;7/16/2003, Vol. 345 Issue 31678, p36
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Focuses on the decision of Illinois to provide its moral obligation backing to up to $300 million worth of taxable revenue borrowing, in an effort to start a two-year-old, unused $3 billion authorization intended to attract coal companies interested in power plants. Reaction of state officials to the use of moral obligation pledge in the bond; Risks of default in the moral obligation pledge.
ACCESSION #
10294058

 

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