CHICAGO — The Regional Transportation Authority of Illinois board approved its $3.7 billion 2013 budget Wednesday after resolving a standoff with one of its service boards over its plans to borrow $1 billion of sales-tax-backed bonds over the next five years.

The board put off a vote on the budget at its December meeting after RTA staff raised concerns over the lack of a line item for debt service and more detailed information on the Chicago Transit Authority borrowing in its budget, two-year financial plan,and five-year capital budget.

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