CHICAGO — An Illinois legislative conference committee tasked with crafting a pension overhaul holds its first public meeting Thursday, one day after Gov. Pat Quinn put a $130 million price tag on penalty the state paid to borrow $1.3 billion this week due to its credit deterioration over the last few years.

While Quinn's statement following the $1.3 billion general obligation pricing Wednesday noted that the state achieved better rates than expected in before the pricing, he sought to keep pressure on lawmakers by highlighting the steep interest penalties he blamed on legislative inaction on pensions.

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