Illinois Postpones Bond Auction

1/31/2013 7:26:32 AM

Illinois officials take the rare step yesterday by postponing a bond auction just hours before its scheduled launch. The postponement comes as investors grow weary over Illinois' pension mess. The state planned to sell 500-million dollars in bonds for schools and road projects. But bond investors are worried the Illinois Legislature won't be able to fix its nearly 100-billion dollar pension shortfall.

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