Treasurer Sprague announces OMAP savings for Anderson Park District
The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the Anderson Park District (Hamilton County) enter the market and save an estimated $15,706.85 in interest costs.
“OMAP utilizes the state’s excess liquidity to help local government entities obtain more competitive interest rates that drives down borrowing costs,” said Treasurer Sprague. “We’re thrilled to welcome the Anderson Park District to our growing list of OMAP partners, and we’re proud to support their efforts to save money while making important improvements to community spaces.”
Proceeds from the notes will be used to fund various park district improvements, including new field turf, pickleball courts, parking lot improvements and park trail extensions and renovations. This issuance marks the first time that the park district 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 https://omap.ohio.gov/.
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