The Illinois State Toll Highway Authority has approved a $680 million budget for 2011 that marks the first drop in annual spending in the agency's history.

The budget is down $10.3 million, or 3.9%, from the 2010 budget. "This budget is designed so that the tollway will live within its means in 2011," authority executive director Kristi Lafleur said in a statement.

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.