Borrowing

cityofchicago.org

Chicago Public School's fiscal problems continue. Meanwhile, some universities are trying to figure out how to keep their doors open without state funding. 

For this week’s Past Due, Jamey Dunn sat down with Sean Crawford to give an update about the budget impact on education in Illinois. 

flickr/401(K) 2012

A new analysis found that Illinois lost out on millions of dollars when it sold bonds last week.

Martin Luby, with the University of Illinois’ Institute of Government and Public Affairs, compared the recent bond sale to one in 2006, when Illinois had a much better credit rating. This week for Past Due, Jamey Dunn talked with Luby about his report. 

flickr/ TaxCredits.net

  A new analysis found that Illinois lost out on millions of dollars when it sold bonds last week. 

igpa

When it comes to finances, the State of Illinois has a poor reputation.   New research shows how the state's negative perception is costing taxpayers. 

Illinois already has the worst credit rating among states.  And while that adds to the cost of borrowing money, Illinois winds up paying even more because investors view it as risky of default.

Gov. Pat Quinn says Illinois will pay an extra $130 million in interest on a bond issue this week due to lowered credit ratings because the state has not been able to solve its pension crisis.  
The state sold $1.3 billion in bonds to pay for transportation projects around the state, including redevelopment of a Chicago mass transit line, road repairs and new buildings at university campuses.