State Sells Bonds for Infrastructure
The state of Montana sold $52.2 million in bonds to continue financing infrastructure projects across the state and refinanced $32.4 million in bonds to take advantage of lower interest rates, which will save taxpayer dollars.
The Board of Examiners executed the Bond Purchase Agreement. The bonds sold will continue financing projects such as Romney Hall, expansion of the Great Falls College MSU Dental Hygiene Clinic, and the Montana Heritage Center.
Interest rates for the bond issuances were historically low and ranged between .7 percent to 1.8 percent.
Additionally, the Board of Examiners approved refinancing $32.4 million in trust land bonds as well as water pollution control bonds. Refinancing will save the state $7 million.
The Montana Legislature passed and Governor Bullock signed legislation in 2019 to fund sewer, water, bridges, buildings and other public works projects.