To pay for road, rails and school projects, Illinois will sell $800
million of tax-exempt and taxable general-obligation bonds April 2. The $450 million in tax-exempt securities and $350 million in taxable debt will mature between 2014 to 2038.
This is the first competitive bond sale for Illinois since the state was slapped with the worst credit rating in the nation by Standard & Poor's. On January 30, just days after the downgrade, the state put a $500 million bond sale on hold.
Abdon Pallasch, the governor's assistant budget director, told Bloomberg
in an email that the deal increased from $500 million to $800 million because the state
has “more projects ready to get under way now at the start of