RYAN ANNOUNCES NEW ILLINOIS INFRASTRUCTURE TASK FORCE; DEVELOPS A "FUND FOR ILLINOIS' FUTURE"

SPRINGFIELD -- Gov. George H. Ryan today announced the creation of the Illinois Infrastructure Task Force charged with prioritizing infrastructure needs and making appropriate recommendations for potential funding to the Governor and the General Assembly.

"Today I am appointing a blue-ribbon task force to evaluate and prioritize our infrastructure needs, and to report back to me and the General Assembly with their recommendations," Ryan said. "I want them to advise us, collectively, on how we can build a 'Fund for Illinois' Future' to ensure that Illinois' infrastructure needs are met well into the next century."

The panel will focus on creating a new infrastructure-financing program for the state. This "Fund for Illinois' Future" will be based partially upon a new bonding mechanism likely to result from the task force's analysis of potential revenue sources and bonding authorities. The "Fund for Illinois' Future" will help finance the repair, renovation and construction of Illinois' schools, transportation network and water and sewer systems.

The Illinois Infrastructure Task Force will be Chaired by John Glennon of Lake Forest. Glennon chaired Governor Ryan's Transition Committee on Infrastructure and is President of Health Alliance. Serving as Vice-Chairs will be Ed Bedore of Springfield and Diane Cullinan of Peoria. Bedore is the former Chief Financial Officer for the City of Chicago and is currently President of EB Enterprises. Cullinan is Chairman of the Illinois Development Finance Authority and Chairman of Cullinan Companies.

Governor Ryan made the announcement earlier today as part of his first address to a joint session of the General Assembly. The Governor will soon appoint as many as ten additional members to the Illinois Infrastructure Task Force.

The task force will be required to submit a report detailing their findings and recommendations to the Governor and General Assembly later during the Spring Session.