Entries by Adam Johnson

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Recently Affirmed Credit Ratings Help the State Treasurer Receive Strong Interest in Bond Sale

The Office of the State Treasurer achieved strong investor interest and low interest rates in the sale of more than $707.5 million of Various Purpose General Obligation Bonds, and $140 million of General Obligation Bonds (Taxable) on Tuesday thanks in part to Washington’s newly affirmed strong credit ratings. “The attractive interest rates that my office […]

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State Treasurer Secures Impressive Bond Ratings as Washington State Seeks to Finance Future Projects

State Treasurer Mike Pellicciotti received confirmation this week that Washington will maintain its impressive bond ratings ahead of next week’s scheduled sale of approximately $707 million of Various Purpose General Obligation Bonds, and $140 million of General Obligation Bonds (Taxable). “Affirmation of the state’s strong credit ratings, including Moody’s outstanding ‘Aaa’ rating, affords us the […]

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Office of the State Treasurer Saves Washington $4.3 Million Through Transportation Bond Refinancing

Olympia, WA – Washington State Treasurer Mike Pellicciotti approved a series of refunding bonds today, saving more than $4.3 million in debt service costs on bonds that had been originally issued to finance a portion of the State Route 520 Bridge Replacement and HOV Program. Taking advantage of opportunities to reduce the state’s debt service […]

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Local Districts Partner with the Office of the State Treasurer to Finance New Projects, Reduce Local Debt Costs

The Office of the State Treasurer (OST) is scheduled to sell a series of Certificates of Participation (COPs) this week that will provide funds to local districts across Washington, financing new equipment, emergency vehicles and building construction. Local districts will gain access to low financing rates by utilizing the Local Option Capital Asset Lending Program […]

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Budget funds key first step in State Treasurer’s wealth gap initiative

OLYMPIA – With the Governor’s signature on the supplemental budget today, Washington state took a key first step in creating the Washington Future Fund, an initiative championed by State Treasurer Mike Pellicciotti to address the wealth gap in Washington. Today’s budget forms the Washington Future Fund committee, a study of wealth inequality, and a final […]

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State Treasurer Requested Civil Asset Forfeiture Legislation Enacted

OLYMPIA – The Office of the State Treasurer Requested Civil Asset Forfeiture legislation that will dedicate funds collected by the state to the Behavioral Health Loan Repayment Program Account was signed into law today by Washington Governor Jay Inslee. Senate Bill 5728, sponsored by Sen. Jeff Holy (R-Spokane), dedicates all civil asset forfeiture dollars collected […]

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State Treasurer’s Linked Deposit Program Request Legislation Enacted

OLYMPIA – The Office of the State Treasurer’s request legislation that modernizes the state’s Linked Deposit Program by diversifying depositing options to help maintain the health of the program was signed by the Governor today. Senate Bill 5787, sponsored by Sen. Joe Nguyen (D-White Center), broadens depositing options for the Treasury beyond only Certificates of […]

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State Treasurer Pellicciotti Holds Bond Sale to Finance $942 Million for Community and K-12 Projects

Washington State Treasurer Mike Pellicciotti approved the sale of a series of bonds today that will deliver upwards of $942 million in proceeds to be used to finance community infrastructure, K-12 school renewal and replacement projects, and other capital projects across the state. Prior to the sale, Moody’s Investor Service, one of the Nation’s top credit rating agencies, reaffirmed its strong Aaa rating for […]

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Local and State Partners Team up with State Treasurer to Finance Purchases, Save Big on Future Debt Costs

Eight municipalities across Washington, two state agencies, and three colleges are preparing to finance new equipment, emergency vehicles and building upgrades in partnership with the Office of the State Treasurer. Utilizing the Local Option Capital Asset Lending Program (LOCAL Program) partners gain access to low financing rates — reducing future interest costs and allowing more […]