CORRECTED-Constitutionality of $16 billion of Illinois bonds challenged
The sale of $10 billion of
general obligation bonds in 2003 and $6 billion in 2017 by
Illinois was unconstitutional because the proceeds were used for
loans to the state’s pension funds or to finance budget
deficits, according to a court filing on Monday.
general obligation bonds in 2003 and $6 billion in 2017 by
Illinois was unconstitutional because the proceeds were used for
loans to the state’s pension funds or to finance budget
deficits, according to a court filing on Monday.
Posted by Reuters
