Governor Quinn Signs Legislation to Allow Illinois’ Public Universities to Borrow to Pay Bills

SPRINGFIELD–(ENEWSPF)–June 8, 2010. Governor Pat Quinn today signed a bill into law that allows Illinois’ public universities to borrow money in anticipation of already-authorized state funding. Illinois’ local school districts are able to borrow money in anticipation of tax receipts, but public universities have not had that option until now.

“This legislation will give our public universities an important fiscal tool to manage through this unprecedented economic crisis,” said Governor Quinn. “We are committed to…