Illinois Looks To Borrow One-Point-Five Billion For Unpaid Bills
(Springfield, IL) — The state of Illinois is looking to finally pay off some of its old bills. The state yesterday started the process to borrow one-and-a-half billion-dollars. The money will go to pay some of the state’s 16 billion in unpaid bills. Governor Rauner’s office said that the interest on the borrowing will be less than the 12-percent late-payment interest Illinois is currently paying on some of its backlog of bills.
Benjamin Yount/jab IL)
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