August 29, 2019 / 9:01 PM / 19 days ago

Judge denies constitutional challenge to $16 billion of Illinois bonds

CHICAGO, Aug 29 (Reuters) - An Illinois judge on Thursday denied a petition by taxpayers aiming to challenge the constitutionality of $16 billion of general obligation bonds the state sold in 2003 and 2017.

The head of an Illinois-based conservative think tank, along with an investment firm had sought approval from the Sangamon County Circuit Court in July to sue state officials to stop billions of dollars in future payments on the approximately $14.35 billion of bonds that remain outstanding. (Reporting by Karen Pierog in Chicago Editing by Matthew Lewis)

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