CHICAGO — The Illinois Supreme Court Monday upheld the state’s $31 billion public works program and the funding sources established to repay billions in borrowing, clearing the path for the planned sale of several billion dollars of new debt.

In a unanimous opinion, the court reversed an appellate court decision earlier this year that had overturned the series of 2009 laws that made up the capital budget.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.