Entries by Adam Johnson

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State Receives Clean Audit of its Local Government Investments

OLYMPIA, WA. – State Treasurer receives clean bill of health for its local government investment program, earning a favorable audit report of its financial statements. “We make sure locals receive quality services for their invested surplus cash, gain reliable returns on their investment, and reap the benefit of our impeccably high investment standards. Receiving a […]

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A big win for SR 520 toll payers

OLYMPIA, WA. – On Wednesday, the Washington State Treasurer’s Office sold $396,315,000 of Motor Vehicle Fuel Tax General Obligation Refunding Bonds (Triple Pledge Bonds-SR 520 Toll Revenue) to take advantage of low interest rates and lock in $102 million of debt service savings for the state’s SR 520 toll bridge. “Today’s sale was a big […]

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Washington Creates Additional Financing Opportunity

OLYMPIA, WA. – Washington Treasurer Duane Davidson and his Debt Management division are creating additional local government financing opportunities. Under Treasurer Davidson’s direction, the Office of the State Treasurer is increasing the frequency of Certificates of Participation (COP) sales, which give local governments the option to borrow at the state’s low tax-exempt financing rates, from just […]

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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 […]

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 […]