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Governor’s Office Plans to Issue New Bonds to Continue Road Program

The Illinois Association of Aggregate Producers (IAAP) and other groups participated in a conference call hosted by Governor Rauner’s budget office recently.

Tue December 22, 2015 - Midwest Edition
CEG


The Illinois Association of Aggregate Producers (IAAP) and other groups participated in a conference call hosted by Governor Rauner’s budget office recently.
The Illinois Association of Aggregate Producers (IAAP) and other groups participated in a conference call hosted by Governor Rauner’s budget office recently.

The Illinois Association of Aggregate Producers (IAAP) and other groups participated in a conference call hosted by Governor Rauner’s budget office recently in which Budget Director Tim Nuding indicated that the administration intends to issue $400 million in new bonds in January dedicated to transportation. The bond issuance is intended to prevent any delays in the $1.75 billion FY16 IDOT maintenance program. An additional bond sale will likely be needed in the spring.

Nuding indicated that despite recent media reports, the Governor is not looking at additional fund sweeps to help resolve the state’s current budget impasse. He reiterated that transportation infrastructure is a priority for Governor Rauner and the administration remains intent on passing a capital construction plan after the budget impasse is resolved.