Quinn interested in refinancing for overdue bills


Share
Posted Online: Nov. 15, 2012, 4:46 pm
Comment on this story | Print this story | Email this story

CHICAGO (AP) Pat Quinn's budget director says the governor wants to work with lawmakers on a refinancing plan to pay down some of the state's $8 billion in overdue bills.

Jerry Stermer told the House Revenue and Finance Committee Thursday that Quinn in the coming weeks will present lawmakers with a proposal for refinancing some of that debt.

The governor's office later suggested Stermer overstated the progress and said there was no new plan in the works. Quinn's office says the governor is interested in working with the General Assembly on the issue.

As part of its massive budget quandary, Illinois has been months late on bills, forcing many nonprofit agencies that do work for the state to fire staff, borrow money and delay paying salaries.
















 



Local events heading








  Today is Friday, Sept. 19, the 262nd day of 2014. There are 103 days left in the year.
1864 -- 150 years ago: Charles M. Osborn of this city, a lawyer of prominence, who voted for Lincoln in 1860 is now out strong for McClellan and will take the stump for him.
1889 -- 125 years ago: The George Fleming company had begun its dried fruit packing in a branch plant on 16th Street, Rock Island, employing nearly a hundred workers.
1914 -- 100 years ago: The cornerstone of the new Eagles home was laid. Building committee members were John Kobeman, Fred Ehmke and Frank Wich.
1939 -- 75 years ago: Former Kaiser Wilhelm, in exile, is sad as the Nazis march with communists.
1964 -- 50 years ago: Ninety-two members of the acappella choir at Davenport's West High School today accepted an invitation to perform at the New York World's Fair on June 13, 1965.
1989 -- 25 years ago: A Rock Island woman is one of 50 winners of $10,000 in cash in the Illinois State Lottery's "Celebration "89" instant ticket game. Dawn Loeffler was the third winner to be chosen through daily drawings that began Aug. 28 and will run 50 consecutive days.






(More History)