Gov. Earl Ray Tomblin has announced
the sale of nearly $134 million in State Road General Obligation refunding
bonds, saving the state nearly $26 million in total interest payments.
The refunding bonds were sold as a
competitive sale. Over $25 million of the savings will go toward the funding of
capital road projects by the state Department of Transportation next year
Tomblin said in a statement that
the sale shows a commitment to savings.
“Today’s bond sale is a testament
to the hard work we’ve done over the past twenty years to get our financial
house in order,” Tomblin said. “Our commitment to responsible financial
policies is saving taxpayers millions of dollars and is a direct result of hard
work we have done, and continue to do, to remain one of the most fiscally
responsible states in the country.”
The bonds also received favorable
ratings from various agencies.
