Illinois Finance Authority approves $1.09 billion in new issuance

By Aaron Hochman-Zimmerman

New York, June 9 - The Illinois Finance Authority approved the issuance of $1.091 billion in new debt at Tuesday's meeting of the board of directors, according to Marj Halperin, spokeswoman for the authority.

Only one of 13 measures was not approved by the board for "standard reasons," Halperin said.

The failed measure was a $17.5 million bond for Marion Community Unit School District No. 2.

The deal will likely be approved at a later meeting, Halperin said.

The 12 bonds which were approved will provide funding for the agricultural, arts, education and healthcare sectors.

Healthcare made up the greatest percentage of the approved bonds at $1.001 billion.

The Illinois Finance Authority is located in Chicago.

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