Treasurer Sprague Announces OMAP Savings for the City of Miamisburg

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the City of Miamisburg (Montgomery County) enter the market and save an estimated $19,945 in interest costs.

“Through OMAP, local governments can leverage the strength of Ohio’s balance sheet to lower borrowing costs when financing community projects,” said Treasurer Sprague. “We’re proud to continue our partnership with the City of Miamisburg and to help them save thousands of dollars on borrowing costs.”

The City of Miamisburg’s notes were issued to finance improvements to municipal recreational facilities including the construction of multiple pools and improvements for a city park. This deal marks the fifth time the City of Miamisburg has leveraged OMAP, and the previous deals saved the city an estimated $64,003 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 340 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $6.8 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 https://omap.ohio.gov/.

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