Treasurer Sprague Announces OMAP Savings for the Monroe Local School District
COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the Monroe Local School District (Butler and Warren Counties) enter the market and save an estimated $36,826 in interest costs. This issuance marks the first time the school district has utilized OMAP to achieve savings.
“Through the Ohio Market Access Program, school districts can benefit from the state’s high credit rating to finance important improvement projects and save on interest costs,” said Treasurer Sprague. “We’re proud to welcome the Monroe Local School District as our newest OMAP partner as they make important upgrades to school facilities.”
The Monroe Local School District’s notes were issued to finance site acquisition, new construction, and improvements to school facilities. Additionally, the notes will help fund equipment, furnishings, and site improvements.
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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