Entries by ost_admin

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In Latest Bond Sale, State Treasurer Passes Half-Billion Dollars Mark of Savings in First Term

OLYMPIA – Backed by strong ratings and steady investor interest, the Office of the State Treasurer (OST) today refinanced $507,510,000 of previously issued bonds, saving millions in debt service costs by locking in lower interest rates. Upon finalizing today’s sale, OST will now have generated $532.2 million in net present value savings since the beginning […]

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Municipal Districts Purchase Millions in Projects with help of State Treasurer’s Office

OLYMPIA – The Office of the State Treasurer (OST) financed over $40 million of projects with the sale of a series of Certificates of Participation (COPs) this week that will provide funding for local districts, state agencies, and colleges across Washington. This latest round of financing facilitates the construction of a new facility, and the […]

Washington State Treasurer Commends Cannabis Banking Progress, Urges Further Action

OLYMPIA – Following the United States Senate Committee on Banking, Housing, and Urban Affairs passing the SAFER Banking Act of 2023, Washington State Treasurer Mike Pellicciotti released the following statement: “The SAFER Banking Act passing out of committee today is welcome news to the forty states with recreational or medical cannabis industries which are eager […]

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Treasury Request Legislation to Spur Economic Development, Local Partnerships Signed

OLYMPIA – Legislation updating Washington’s Tax Increment Financing (TIF) program was signed into law today. House Bill 1527, requested by the Office of the State Treasurer (OST) and sponsored by Rep. Sharon Wylie (D-Vancouver), will expand eligible uses of this financing tool to spur infrastructure and economic development projects around the state. “In partnership with […]

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State Treasurer Saves $160.7 Million in Bond Sale, Highest Savings from Refinancing in Washington History

OLYMPIA – The Office of the State Treasurer (OST) sold $828,715,000 in Various Purpose General Obligation Refunding Bonds and $514,350,000 in Motor Vehicle Fuel Tax and Vehicle Related Fees General Obligation Refunding Bonds today, bringing the total net present value savings to the state generated by refinancings to a cumulative $484.8 million since 2021. State […]

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State Treasurer Secures Favorable Interest Rates in Bond Sale, Saving Tens of Millions in Debt Costs

The Office of the State Treasurer received strong demand from bidders in Wednesday’s competitive sale of $603.0 million of Various Purpose General Obligation Bonds and $90.2 million of Motor Vehicle Fuel Tax and Vehicle Related Fees General Obligation Bonds thanks largely to Washington’s strong credit ratings. “I want to once again thank my talented team […]

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State Treasurer, Prosperity Now Announce Partnership to Study Wealth Inequity in Washington

OLYMPIA – State Treasurer Mike Pellicciotti and Prosperity Now Chief Executive Officer Gary Cunningham today announced a new partnership to review socioeconomic disparities in Washington state and the impact of wealth inequities on the lives of Washingtonians. “It’s clear that growing wealth gaps pose a significant challenge to the future of our state treasury in the […]

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State Treasurer Heads into Debt Refinancing with Strong Ratings Affirmed, Helping Save Washington Millions

OLYMPIA – Since taking office, State Treasurer Mike Pellicciotti took advantage of low interest rates to refinance all state debt eligible for a tax-exempt refinancing under federal law, saving Washingtonians over $290 million in future debt service payments. Tomorrow (Tuesday, 4/26/22), the State Treasurer’s Office plans to refinance an additional $1.4 billion in previously issued […]

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State Treasurer Priority Legislation Headed to the Governor’s Desk

OLYMPIA – The Office of the State Treasurer has three pieces of request legislation and a key budget proviso headed to the Governor’s desk for enactment as the state Legislature concludes the 2022 session. The bills are as follows: Senate Bill 5787, sponsored by Sen. Joe Nguyen (D-White Center), modernizes the state’s Linked Deposit Program […]