SPRINGFIELD — The state of Illinois made it possible for candidates to electronically file Statements of Local Interests with county clerk offices that provide the option. The new, more efficient filing system was made possible when Gov. Bruce Rauner signed House Bill 4395 today.

“My administration has worked to modernize processes across state government,” Rauner said. “We have strived to reduce regulation, streamline paperwork and provide more efficient and modern government services. This is another step in that process.”

The new law will give local and state government the ability to modernize part of a candidate’s filing and reduce clutter.

Chief Senate sponsor Sen. Jason Barickman, R-Bloomington, said, “Any time we can speed up, simplify and improve the efficiency of government, it is a good move. This is just another small step toward those goals.”

“The statement of economic interest is an important document that every candidate must file, and this measure updates archaic processes so that local candidates can take advantage of Internet technology when filing this information,” said Chad Hays, R-Catlin, the Chief House Sponsor of the bill. “The provisions of this bill will simplify and modernize the process and bring a new level of efficiency to candidate filing requirements.”

For state legislative candidates, the ethics officer for the individual caucus would determine whether the members of that caucus would file electronically or on paper.

Statewide candidates who file with the Illinois Secretary of State would still be required to file on paper.

SPRINGFIELD — Today the State of Illinois sold $965,770,000 in General Obligation Refunding Bonds, Series A and Series B of September 2018. The $641,160,000 Series A of September 2018 were a takeout of the State’s $600 million in 2003B variable rate bonds and the termination of five swaps associated with those bonds. 

The refunding will eliminate all the variable rate exposure and remove the highest-cost debt from the State’s capital market programs. Proceeds from the $324,610,000 Series B Bonds of September 2018 will be used to refund several series of previously issued general obligation bonds of the State. Total debt service savings of $33,643,047, or 5.89 percent of present-value savings were derived from the Series B Bonds, and each individual bond selected for refunding in this series had in excess of 3 percent present-value savings to the State. The State received bids from 87 institutional investors totaling $4,166,070,000 in orders, or a 4.3 times subscription for the bonds.

Today’s bond issue has an all-in borrowing cost for the combined series of 4.19 percent. The bonds are being issued as fully exempt from federal taxation and are rated BBB by Fitch Ratings, Baa3 by Moody’s Investor Service and BBB- by S&P Global.

“We are very pleased with the strong investor response to today’s bond sale. By refunding the $600 million in variable-rate debt, the State eliminates its highest-cost debt and replaces it with traditional fixed-rate bonds carrying a much lower overall rate of interest,” said Hans Zigmund, budget director for the State. “By refunding other outstanding bonds with higher fixed rates as part of the same bond sale, we maximized savings and minimized the costs of the sale. Taxpayers will realize these savings for years to come.”

The syndicate was led by J.P. Morgan. Bank of America Merrill Lynch, Loop Capital Markets LLC, PNC Capital Markets LLC and Siebert Cisneros Shank & Co., L.L.C  served as co senior managers. Blaylock Van, LLC, Cabrera Capital Markets, IFS Securities, Mischler Financial Group Inc. and Stern Brothers served as co-managers. Chapman and Cutler LLP and Burke Burns & Pinelli, LTD are acting as co-bond counsel for the transaction. Chapman and Cutler LLP is the State’s disclosure counsel. The State’s financial adviser for the transactions is Columbia Capital Management, LLC. The State’s swap adviser is Swap Financial Group.

INA, Ill. – Rend Lake College’s two music ensembles – the Concert Band and Concert Choir – are looking for talented musicians to join the ranks for the Fall 2018 semester. The ensembles are tuition free and registering now.

Concert Choir (MUSI 1159), under the direction of Sara Alstat, RLC Music Associate Professor, is a vocal ensemble that performs in concerts and at college functions throughout the semester. The course is designed to provide a performing outlet for talented college musicians. The choir rehearses from 12 – 12:50 p.m. Mondays, Wednesdays, and Fridays in the Learning Resource Center (LRC).

The Concert Band (MUSI 1161) provides a playing outlet for experienced band musicians and includes at least one concert per semester. The band rehearses from 11 – 11:50 a.m. Mondays, Wednesdays, and Fridays in the LRC with Alstat.

Musicians without an instrument need not fret, RLC has a number of instruments ready for use. Both ensembles are open to any student or community member. Both will be readying for the Fall Concert, set for 7 p.m. Thursday, November 15.

Participants must be over the age of 16. Students with any major are welcome to register and the one credit hour per ensemble can be used as electives toward any degree. For more information about the Concert Band or Concert Choir, contact Sara Alstat at 618-437-5321, Ext. 1817 or alstats@rlc.edu.