Illinois Finance holds special board meeting to approve $1.49 billion in bond proposals

By Cristal Cody

Tupelo, Miss., Oct. 23 - The Illinois Finance Authority held a special board meeting on Thursday to approve $1.49 billion in bond proposals and to pass several resolutions.

The board was expected to approve $150 million in communities and culture projects bonds for The Art Institute of Chicago and $500 million in higher education bonds for the University of Chicago.

The board also planned to approve health care bonds of $50 million for the NorthShore University HealthSystem, $70 million for the Rockford Health System, $375 million for Rush University Medical Center Obligated Group, $275 million for Silver Cross Hospital and $40 million for Bethany North Suburban Group.

The board also met to pass resolutions that will authorize OSF Healthcare System to purchase and hold their own bonds from the series 2005A, 2005B, 2007B, 2007C and 2007D bonds and for the BroMenn Healthcare Hospitals to increase its bond resolution amount to $65 million from $50 million and to add the refunding of the series 1992 bonds.

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