CHICAGO -- Gov. Jim Edgar of Illinois has scrapped plans for a $300 million general fund cash-flow borrowing, but will move forward with a $600 million short-term borrowing backed by Medicaid funds, a spokesman for the governor said yesterday.
Dan Egler, the governor's spokesman, said Gov. Edgar decided to proceed with only the Medicaid borrowing because of the state treasurer's "adamant opposition" to the general fund borrowing. The Edgar administration had planned to sell both issues competitively early next month.