Legislators still in dark over FY 2005 capital budget

   As the Illinois General Assembly's veto session rapidly approaches, legislators closest to the capital expenditure budget process say they have yet to see any preliminary numbers.
   On Nov. 8, legislators are scheduled to report to the Springfield rotunda to accomplish an ever-growing list of priority items that were not resolved in the extended general session ending July 24.
   At the top of the agenda is passage of the capital budget - the document that outlines exactly how longer-term, multi-year state expenditures are to be paid for. Such projects include [continue]

GOP rejoices over debt control act
By KERRY L. SMITH

   Illinois Senate Republicans are hailing the state's first competitively bid bond sale since 1999, made possible by a new law they hope will put an end to Gov. Rod Blagojevich's practice of back-loading debt.
   The sale on Sept. 22 of $285 million in general obligation bonds at a near-record, historically low interest rate of 4.19 percent is the first

tangible outcome of the FY 2005 Budget Implementation Finance Act, signed into law July 30.
   Republican Sen. Christine Radogno from Lemont, the chief sponsor of the legislation, introduced a version of the bill in February - SB 3097, dubbed as the Debt Responsibility Initiative - in an attempt to control the governor's long-term spending habits. It didn't make it out of committee. [continue]