Illinois’ bond rating, which hovers slightly above “junk” status, is now being credited for stalling out local government work. Multiple school districts across the state are feeling the effects of Illinois’ failure to follow through on promises of state construction monies. The Reuters report highlights Algonquin District 300’s inability to finish its construction on the unit’s new facilities.
Additionally, the region’s Metra system is also having problems keeping up with their expansion and maintenance schedules because of bonding issues. The report notes that Illinois has not placed bonds for sale since May 2014, which places even more strenuous restrictions on the state’s now 11-year old school construction list.
The state’s fiscal woes also extend to the 2009 “Illinois Jobs Now!” construction plan, which is on schedule to leave more than $4 billion in bonding authority on the “table.”