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KM Financial Solutions | UPDATE 1-Constitutionality of $16 billion of Illinois bonds challenged
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UPDATE 1-Constitutionality of $16 billion of Illinois bonds challenged

30 Jun UPDATE 1-Constitutionality of $16 billion of Illinois bonds challenged

Posted at 22:17h in News by
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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.

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