Treasurer Sprague Announces OMAP Savings for Trumbull County

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped Trumbull County enter the market to refinance outstanding debt and save an estimated $54,355.12 in interest costs.

“With OMAP, we’re putting the power of the treasury to work so our communities can stretch their budgets to make important infrastructure updates and community improvements,” said Treasurer Sprague. “We’re proud to welcome Trumbull County as one of our newest OMAP partners, and we’re pleased to help them achieve more than $50,000 in savings over this first deal.”

The original note was issued to fund water system improvements related to the Prosperity Water Line Project and the Elm Road Water Project, as well as replacing existing elevators in the county’s administration building. Proceeds from the new  notes will be used to fund the State Road Water Regionalization Project, the Meadowbrook Sanitary Sewer Project, and various county building improvements. This issuance marks the first time that the county has utilized OMAP.

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