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News Friday November 13th, 2015, 2:18pm

Illinois Finance Authority To Provide Funds For State Bills During Impasse

The Illinois Finance Authority (IFA) agreed Thursday to use $12 million, in part, for making payments to state vendors who have been impacted by the budget impasse.

Under a plan backed by Gov. Bruce Rauner's office, the authority is looking use some of that $12 million to cover 911 service costs and payments to various vendors.

The authority is also weighing whether to issue bonds so additional vendor payments can be made amid the budget stalemate.

"We have received a request from the governor's Office of Management and Budget to see what measures we can take to ameliorate the difficulties faced by state vendors," stated IFA Executive Director Christopher Meister, reported the Chicago Tribune.

According to its website, IFA "provides access to low-cost, non-conventional financing along with expert, hands-on support to help businesses, farms, local governments, hospitals and non-profits get capital needed for growth."

The authority gets its funding via bond issuance fees paid by hospitals and other entities.

Sources

  • News links: 
    Chicago Tribune

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Tags

  • Bonds
  • Bond Sale
  • budget
  • Fees
  • Finances
  • Hospitals
  • Illinois
  • Illinois budget
  • Illinois Finance Authority
  • Rauner Administration
  • State budget
  • Vendor

Public figures

  • Bruce Rauner

Level of gov't

  • State of Illinois

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