CFO of Illinois RTA Disputes Claim That Debt Limit Was Reached

Shields, Yvette
October 2004
Bond Buyer;10/27/2004, Vol. 350 Issue 31998, p40
Trade Publication
The article reports that the Illinois Regional Transportation Authority's (RTA) chief financial officer said yesterday was perplexed by a letter he received this week from state officials suggesting that the agency had exceeded its borrowing authority. Transportation funding is expected to top the agenda of state lawmakers as they return to work for a brief fall session next month. The RTA wants an additional $134 million of funding for its service boards. Illinois FIRST authorized a total of $1.3 billion of new Strategic Capital Improvement Program borrowing over five years in increments of $260 million.


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