SPRINGFIELD, Ill. (WSIL) -- Comptroller Susana Mendoza has launched a new website which details financial and credit ratings for the state.
Bonds are issued through the state which helps fund state projects, such as roads and bridge projects, school buildings, train stations and more.
The new webpage now features information on budget-related bonds which are issued by the state and the progression on paying them off.
Mendoza says the total outstanding bond debt stands at $40,424,563,000, as of December 31.
“Transparency has been a hallmark of my administration, and I want the public to see where we are at when it comes to paying off these bonds,� says Comptroller Mendoza. “Sometimes government needs to issue bonds to tackle large expenses, and it’s important to show what progress has been made.�
Mendoza stated nearly $9 billion of a $16.7 billion stack of old bills were paid off, leading to an interest rate drop on that debt from 12% to 3.5%. She said this saved taxpayers across the state an estimated $4 billion to $6 billion in interest penalties.Â
To see the new website, you can find it .
