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The Office of the State Treasurer (OST) today sold bonds to refinance $1,222,545,000 of previously issued bonds to save the state roughly $18.8 million in present value debt service costs.
Nearly $37 million in financing was made available for projects across Washington with the help of the Office of the State Treasurer (OST) this week. Thanks to the sale of a series of Certificates of Participation (COPs), local fire protection districts, state agencies and one public college will be able to purchase fleet vehicles, fire and medical emergency response vehicles, and other critical purchases at favorable interest rates.
Touting a newly assigned ‘positive’ credit rating outlook from S&P, the Office of the State Treasurer (OST) today sold $663,845,000 of Various Purpose General Obligation bonds (VPGO), and $265,995,000 of Motor Vehicle Fuel Tax and Vehicle Related Fees General Obligation bonds (MVFT/VRF GO) through a competitive sale.
Today, the State Treasurer issued his annual budget recommendations as lawmakers convened for the first week of the 2024 legislative session. This as S&P, one of the country’s major rating agencies, changed their outlook to “positive” from “stable” for Washington’s already sound credit rating, forecasting a potential upgrade.