Illinois Gov. Rod Blagojevich plans to issue up to $1 billion in bonds to pay for roadwork in the state over the next three years, media outlets reported recently.
The governor and his predecessors have shifted hundreds of millions of dollars out of state transportation funds to help balance the state’s deficit-riddled budget.
Blagojevich has gone as far as attempting to move $19 million paid by toll road users to the general fund. However, that attempt to use toll revenue to balance Illinois’ books was blocked by the state’s attorney general, The Chicago Tribune reported.
Blagojevich’s new proposal would pay the bonds with future revenue.