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Governor Signs Bill Allowing Community Colleges to Borrow Money
Gov. Pat Quinn Wednesday signed into law a measure to help community colleges borrow money while awaiting delinquent state funding.

The bill, sponsored by State Sen. Gary Forby (D-Benton) and State Rep. John Bradley (D-Marion), allows community colleges to issue double the amount of bonds they are permitted to issue under current Illinois law for the next three years. The legislation also permits community college districts to establish a line of credit, which is subject to amount, repayment and interest restrictions.

At a ceremony in Danville, the governor also signed two additional bills:

* S.B. 2548, sponsored by State Sen. Deanna Demuzio (D-Carlinville) and State Rep. Bill Black (R-Danville), allows community colleges to submit monthly, rather than quarterly, payment vouchers to the comptroller.

* H.B. 4972, sponsored by State Sen. Edward Maloney (D-Chicago) and State Rep. Cynthia Soto (D-Chicago), allows the Illinois Community College Board to limit some travel reimbursements.

(Illinois Radio Network)
06 10 10 by Newsroom
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