Today, Maine State Treasurer Neria Douglass announced that voter-approved projects funded by the successful general obligation bond sale in late June are listed on the Maine Treasury web site. A brief description of each project, together with the responsible agency, legal authorization and total amount of funds to be transferred is available. The web address is http://www.maine.gov/treasurer/debts_bonds/index.html .
“I am very proud that we were able to secure $127 million for a long list of projects that will improve our economy and the quality of life in Maine. We received millions more from the sale than first anticipated as a result of our determination to achieve the best price possible within our existing budget,” said Treasurer Douglass. “These voter-approved projects are important to Maine’s economy, including jobs and infrastructure. I’m pleased we have already put the money to work throughout the state. Our work provided funds for projects delayed from 2009, and even funded projects approved in November 2013 that were not yet budgeted. ” Bonds for tax-exempt projects sold to Raymond James at a true interest cost of 2.03%, while bonds for taxable projects sold to JP Morgan Chase at a rate of 0.96%. Priced by competitive sale, the transaction netted $127 million at closing on June 24. Funds were transferred to project accounts as listed shortly after.
Contact: Neria Douglass, State Treasurer
Kristi Carlow, Deputy State Treasurer 207- 624-7477