JEFFERSON CITY, Mo. – Missouri will sell $100 million in Series A 2016 Special Obligation Bonds to fund Build Missouri, making use of its recently reaffirmed AAA credit rating.
Build Missouri is a statewide capital improvements initiative funding repairs and renovations at state facilities, veterans homes, state parks and higher education campuses. It supports nearly 500 projects in Missouri.
“Today’s bond sale is another example of how our continued efforts to maintain our AAA credit rating are paying off through lower interest rates, which will save millions for Missouri taxpayers,” said Gov. Jay Nixon. “When complete, these capital improvement projects will improve the learning environment for students at our colleges and universities, the living environment for our veterans, and the working environment for our state employees.”
Today’s sale is the second of three bond sales for Build Missouri, which was approved by the General Assembly during the 2015 session.
Nixon voted for the bond sale as chairman of the Board of Public Buildings. His office says that based on current projections, the state government will have lower levels of state-issued bonding debt than when he first took office.
Last week, the AAA credit rating was reaffirmed by rating agencies, allowing the state to ensure an interest rate of 2.28 percent over the life of bonds.
