Missouri Refinances Bonds - Expected to Save $44 Million

6 years 1 week 6 days ago Thursday, July 05 2012 Jul 5, 2012 Thursday, July 05, 2012 3:15:00 PM CDT July 05, 2012 in News
By: Matt Evans
loading

JEFFERSON CITY - Missouri's AAA credit rating has allowed the state to refinance some of its outstanding debt. The state plans to save $44 million by refinancing the debt at lower interest rates. On Tuesday, the Board of Public Buildings and the Board of Fund Commissioners gave preliminary authorization for the refinancing. 

For Fiscal Year 2013 - which started Sunday - the Board of Public Buildings estimated a savings of $20.6 million and the Board of Fund Commissioners expects to save $23.3 million.  These savings were written into the budget passed by the legislature and signed by the governor. 

"With these savings, we are again seeing the benefits of Missouri earning the highest marks from the top credit rating agencies," Gov. Jay Nixon said. "The lower interest rate translates into millions of dollars saved for taxpayers. This is right in line with the philosophy we've put into practice from the beginning: maintain tight financial discipline, balance our budget, and lay the groundwork for our economy to move forward. It is reaping benefits now and for years to come."

The big three credit rating agencies - Standard & Poor's, Moody's Investor Service, and Fitch Ratings - all rate Missouri's geveral obligation debt as AAA, the highest possible rating.

More News

Grid
List
JEFFERSON CITY (AP) — Missouri Attorney General Josh Hawley has charged a former Greenville city clerk with stealing more than... More >>
1 hour ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 3:07:00 PM CDT July 19, 2018 in News
JEFFERSON CITY (AP) — State conservation officials say six black bears have died after being hit by vehicles in Missouri... More >>
1 hour ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 3:02:00 PM CDT July 19, 2018 in News
ALBANY (AP) — Prosecutors say a northern Missouri man and woman subjected an 11-year-old girl to nearly a year of... More >>
1 hour ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 2:54:00 PM CDT July 19, 2018 in News
POPLAR BLUFF (AP) — A police detective and an official with the U.S. Marshals Service are recovering after being shot... More >>
1 hour ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 2:39:00 PM CDT July 19, 2018 in News
KANSAS CITY, Mo. (AP) — A southern Missouri sheriff and a subordinate have been indicted on multiple felonies following a... More >>
2 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 2:33:00 PM CDT July 19, 2018 in News
MANSFIELD (AP) — The Missouri State Highway Patrol says a Florida man suspected of shooting a trooper is hospitalized in... More >>
2 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 2:19:00 PM CDT July 19, 2018 in News
KANSAS CITY, Mo. (AP) — Three carnival workers have been arrested in the deaths of two vendors who disappeared from... More >>
2 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 2:16:00 PM CDT July 19, 2018 in News
COLUMBIA - A new study released Wednesday by Climate Central found conservation farming practices can help promote healthier soil and... More >>
3 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 1:09:00 PM CDT July 19, 2018 in News
COLUMBIA - The United States Air Force (USAF) Band of Mid-America is partnering with Columbia Parks and Recreation to present... More >>
6 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 10:00:00 AM CDT July 19, 2018 in News
(CNN Money) -- Facebook CEO Mark Zuckerberg tried to clarify his controversial comments about Holocaust deniers Wednesday afternoon, hours after... More >>
8 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 8:33:00 AM CDT July 19, 2018 in News
COLUMBIA – Four National Handball Champions are coming to Columbia Saturday. Wilson’s Fitness on Forum Boulevard is hosting its... More >>
9 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 7:35:00 AM CDT July 19, 2018 in News
MARIES COUNTY - At the City of Belle Fair, officers arrested a sex offender carrying a stun-gun Wednesday night. ... More >>
11 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 4:47:00 AM CDT July 19, 2018 in News
KANSAS CITY (AP) — A man who was shot to death on Sunday after shooting three Kansas City police officers... More >>
20 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:33:33 PM CDT July 18, 2018 in News
MANSFIELD (AP) — The Missouri State Highway Patrol says a trooper who was shot in southwest Missouri has been released... More >>
20 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:28:02 PM CDT July 18, 2018 in News
COLUMBIA - Run-down buildings, scuffed up sidewalks and empty lots are what people first see when they exit off I-70... More >>
20 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:23:00 PM CDT July 18, 2018 in News
ST. LOUIS (AP) — The white former interim police chief of St. Louis is alleging discrimination based on race in... More >>
20 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:20:28 PM CDT July 18, 2018 in News
COLUMBIA - Japanese beetles are swarming mid-Missouri in the tens of thousands, wreaking havoc on gardens, crops and trees. ... More >>
20 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:18:00 PM CDT July 18, 2018 in News
WASHINGTON (AP) — Donald Trump will visit Missouri next week to deliver his first address as president to the annual... More >>
20 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:13:07 PM CDT July 18, 2018 in News
Columbia, MO
Broken Clouds 80°
5pm 90°
6pm 87°
7pm 83°
8pm 80°