Entries by Adam Johnson

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State Treasurer advises Legislators and elected officials on state’s debt limit

OLYMPIA, WA. – On December 11, 2019, the Treasurer certified the state’s constitutional debt limit, filing a report with the Secretary of State, and providing an estimated projection of the state’s remaining debt capacity. “This report is an important part of the monitoring that the treasurer’s office does to ensure that Washington’s debt remains below […]

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Local Government Investment Pool hits a new record high

The Office of the State Treasurer’s program that invests local government’s surplus cash, The Local Government Investment Pool (LGIP), hit a new record high of $19.8 billion in November. The LGIP continues to see participation from every Washington county and 234 cities and towns throughout the state, and maintains a participation fee that is among […]

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State Receives Clean Audit of its Local Government Investments

OLYMPIA, WA. – State Treasurer receives clean bill of health for its local government investment program, earning a favorable audit report of its financial statements. “We make sure locals receive quality services for their invested surplus cash, gain reliable returns on their investment, and reap the benefit of our impeccably high investment standards. Receiving a […]

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A big win for SR 520 toll payers

OLYMPIA, WA. – On Wednesday, the Washington State Treasurer’s Office sold $396,315,000 of Motor Vehicle Fuel Tax General Obligation Refunding Bonds (Triple Pledge Bonds-SR 520 Toll Revenue) to take advantage of low interest rates and lock in $102 million of debt service savings for the state’s SR 520 toll bridge. “Today’s sale was a big […]

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Washington Creates Additional Financing Opportunity

OLYMPIA, WA. – Washington Treasurer Duane Davidson and his Debt Management division are creating additional local government financing opportunities. Under Treasurer Davidson’s direction, the Office of the State Treasurer is increasing the frequency of Certificates of Participation (COP) sales, which give local governments the option to borrow at the state’s low tax-exempt financing rates, from just […]

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Strong Interest Leads to High Number of Local Government Participants in Financing.

OLYMPIA, WA. – Washington state’s strong economic outlook and recent upgrade to Aaa by Moody’s Investors Service helped spur strong interest from investors in a $82,705,000 competitive sale of Series 2019D Certificates of Participation (COPs), financing $97,908,412.81 of property for the state and local governments. This sale saw the highest number of local government participants […]

Washington receives a rating upgrade to Aaa status from Moody’s

OLYMPIA, WA – Moody’s Investor Services has upgraded its rating of the State of Washington’s approximately $19.4 billion in outstanding general obligation bonds, including bonds additionally secured by motor vehicle fuel taxes and toll revenues, to Aaa from Aa1. “Washington has one of the strongest economies in the country, as well as a business base […]

New Assistant State Treasurer Erhiza Rivera

OLYMPIA, WA – State Treasurer Duane Davidson will swear in Erhiza Rivera as Assistant Treasurer in a ceremony at the Legislative Building on Friday.                             Rivera most recently worked as a Grants Manager at Heritage University in Toppenish, WA after spending 12 years in public service with the Benton County Treasurer’s Office. In her time with […]