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#ILLINOIS BORROWS AGAIN

Illinois borrowed $550 million Thursday to fund mass transit and road construction projects. Despite low borrowing rates, the state was saddled with an interest rate of 3.75 percent on bonds with maturities that range from one to 25 years. By comparison, states in the best financial standing can borrow long term at an interest rate of about 2 percent. Illinois has the worst credit rating of any state in the nation. (Chicago Tribune)

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