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Governor Signs University Borrowing Bill
The state's still far behind on its bills, but now at least the public universities in Illinois have some borrowing power.

Gov. Pat Quinn Tuesday signed a bill to allow the universities to borrow up to 75 percent of what is owed, at interest rates of no more than nine percent.

Glenn Poshard, president of Southern Illinois University, said the borrowing authority will help his university make its July and August payroll. He and State Sen. Gary Forby (D-Benton) said how important the university is to the region's economy.

Poshard says the state owes SIU $106 million.

(Illinois Radio Network)
06 09 10 by Newsroom
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