Treasurer Sprague Announces 2024 OMAP Savings for the City of Springfield

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the City of Springfield (Clark County) enter the market and save an estimated $19,375.67 in interest costs.

“OMAP continues to drive down costs and enhance savings for Ohio’s local governments,” said Treasurer Sprague. “By leveraging the state’s high short-term credit rating, we’re helping communities access lower borrowing rates so they can pursue important improvement projects at the local level. With today’s deal, the City of Springfield has once again achieved valuable savings through OMAP, bringing total savings to more than $135,000 in recent years.”

The original note was issued to make improvements to the city’s water and sewer infrastructure. Through this issuance, the city has now utilized OMAP six times to achieve savings. The previous five deals saved the city an estimated $115,986.09 in interest expenses.

OMAP is a credit enhancement program that leverages the state’s excess liquidity and high short-term credit rating to help improve market access and lower borrowing rates for local governments. Since its 2014 launch, OMAP has supported more than 295 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $5.6 million in estimated savings for local governments.

Any government subdivision in good fiscal standing, including cities, villages, school districts, counties, townships, and special districts, issuing short-term debt is eligible to participate. For more information, visit