Entries by Adam Johnson

State Treasurer Saves State $21.5 Million in Debt Service Costs

OLYMPIA, WA. – The Office of the State Treasurer State sold $144.5 million of refunding bonds to refinance bonds originally issued in 2009. The Treasurer’s Debt Management division structured this sale to take advantage of the current market’s low interest rates and strong investor demand, aided by the State’s recent credit rating upgrade to save […]

Strong Interest Leads to High Number of Local Government Participants in Financing.

OLYMPIA, WA. – Washington state’s strong economic outlook and recent upgrade to Aaa by Moody’s Investors Service helped spur strong interest from investors in a $82,705,000 competitive sale of Series 2019D Certificates of Participation (COPs), financing $97,908,412.81 of property for the state and local governments. This sale saw the highest number of local government participants […]

Washington receives a rating upgrade to Aaa status from Moody’s

OLYMPIA, WA – Moody’s Investor Services has upgraded its rating of the State of Washington’s approximately $19.4 billion in outstanding general obligation bonds, including bonds additionally secured by motor vehicle fuel taxes and toll revenues, to Aaa from Aa1. “Washington has one of the strongest economies in the country, as well as a business base […]

New Assistant State Treasurer Erhiza Rivera

OLYMPIA, WA – State Treasurer Duane Davidson will swear in Erhiza Rivera as Assistant Treasurer in a ceremony at the Legislative Building on Friday.                           Rivera most recently worked as a Grants Manager at Heritage University in Toppenish, WA after spending 12 years in public service with the Benton County Treasurer’s Office. In her time with the […]

National Association of State Treasurers Passes Resolution on Cannabis Banking

May 17, 2019 Olympia, WA – A resolution by the National Association of State Treasurers (NAST) passed today, in which the Association is voicing their support for Congress to advance legislation allowing the states with legalized cannabis the ability to bring transactions into the safety and scrutiny of the national banking system. The resolution does not take […]

New Investment Option for Local Governments

Washington Treasurer offers new program to provide local governments with another investment option. Members of the Office of the State Treasurer’s investments team gathered as Washington Gov. Jay Inslee signed Substitute House Bill 1284 last week. The bill creates the capacity for the State Treasurer’s Office (OST) to provide separately managed investment portfolios to eligible […]

State Treasurer launches the Washington Fund Directory

OLYMPIA, WA – State Treasurer Duane Davidson is helping local governments match with the funding sources they need to achieve their goals by launching the Washington Fund Directory this week. On Tuesday, Treasurer Davidson announced his office created an online directory of programs offered by State agencies that provide funding (grants and loans) to not […]

An Easier Way to Understand the Complexities of State Debt

OLYMPIA, WA – There is an easier way to understand the complexities of state debt with the Office of the State Treasurer’s recently published Debt Affordability Study Digest. “I want people to know exactly how much the State relies on debt” Each year State Treasurer Duane Davidson and his Debt Management Team publish a comprehensive […]