CHICAGO — The Illinois State Toll Highway Authority board has adopted a $609 million budget for 2012 that anticipates $200 million in toll-backed borrowing as the agency embarks on its $12 billion, 15-year capital program to maintain and expand the 286-mile system.
The authority approved the capital program and a steep increase in passenger tolls in August. The additional toll revenue will go to repay $4.8 billion in borrowing to support the program. “Our budget currently anticipates the sale of $200 million of bonds in mid-2012,” said ISTHA spokeswoman Wendy Abrams. “If market conditions are favorable, we may consider a larger issuance.”