Treasurer Sprague Announces OMAP Savings for the Village of Pioneer

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the Village of Pioneer (Williams County) enter the market to refinance outstanding debt and save an estimated $45,425 in interest costs.

“OMAP can drastically reduce interest expenses for our local government partners. Since 2021, the Village of Pioneer has leveraged the program to make three deals that have resulted in total savings of more than $100,000,” said Treasurer Sprague. “We’re proud to help communities across Ohio take advantage of the state’s high credit rating to achieve real savings.”

The original note was issued to finance major electrical system improvements, including a new substation and distribution feeders and other related improvements. Through this issuance, the village has now utilized OMAP three times to achieve savings. The previous two deals saved the village an estimated $59,163.42 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 290 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $5.3 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