St. Louis Public Radio News
10:03 am
Fri June 6, 2003

IL Bond Sales Does Better Than Expected

Springfield, IL – The state of Illinois sold $10 billion in bonds this week, $4 billion more than what the state had planned.

Budget Director John Filan says low bond yields made for a higher demand. The bonds raised cash to help pay pensions for retired state employees this year. It's a banking move that helps ease a roughly five billion-dollar deficit in the state's budget.