COMPTROLLER MENDOZA'S STATEMENT ON TUESDAY'S BOND SALE

CHICAGO — The 3.5 percent rate the state of Illinois received on its competitive bond offering Tuesday will serve state taxpayers much better than the interest rates of up to 12 percent the state pays on parts of its bill backlog now. Once the negotiated sale is complete, my office will leverage federal matching funds to get taxpayers a good return on their investment and we will move swiftly to pay down the highest-interest-accruing parts of the state’s debt.

 

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