July 28, 2014
CARSON CITY, Nev. (AP) - State Treasurer Kate Marshall says her office has completed a series of bond sales that will save Nevada taxpayers $6.3 million.
Six bond series were includes in the sales, for a total face value of $149.4 million. Of that, $32 million will be used for capital improvement projects and the remaining $117 million used for refinancing existing state obligations.
Marshall on Wednesday said Nevada maintains its AA credit rating rate, meaning the state is able to borrow at lower interest rates.
Marshall says the savings achieved through the refinancing will be used to increase Nevada's bond reserves.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.