Entries by ost_admin

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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 […]


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 […]


Biggest Bond Refunding Series in State History Saves Almost $138 Million in Debt Service Costs

OLYMPIA, WA – Pending Congressional action potentially changing future tax policy and restricting the state’s ability to issue refunding bonds helped support the biggest single bond refunding series in Washington State history. The Office of the State Treasurer sold $742.645 million of Various Purpose General Obligation Refunding Bonds, Series R-2018C on Tuesday, November 14th. The sale […]

OST Hires Jason P. Richter as New Deputy Treasurer for Debt Management

OLYMPIA, WA – The Washington State Treasurer’s Office is pleased to announce the hire of Jason P. Richter as the new Deputy Treasurer for Debt Management. Within the role, Richter will be a part of the Office of the State Treasurer’s (OST) Executive Leadership Team which provides strategic leadership and tactical planning to support the […]