Debt Issuance Summary
The Treasurer serves as issuing authority for various general obligation, revenue, and special obligations of the state. The Office of Debt Management acts on behalf of the Treasurer to facilitate each debt issuance. Additionally, Debt Management performs certain duties on behalf of the Treasurer of State for the Ohio Public Facilities Commission (OPFC).
The office works closely with financing team participants, the Treasurer’s financial advisor, and the Office of Budget and Management to facilitate all aspects of debt issuance, refunding analysis, and proposal review.
General Obligation Debt
General obligation bonds are secured by the full faith and credit and general taxing power of the governmental issuer. The Treasurer's office currently issues general obligation debt for Highway Capital Improvements.
Revenue and Special Obligation Debt
State special obligation debt, the owners or holders of which are not given the right to have excises or taxes pledged to the payment of debt service, is authorized for specified purposes by Section 2i of Article VIII of the Ohio Constitution. Debt service payments are subject to biennial appropriations made in the State's operating budget under leases or agreements entered into by the state. The Treasurer of State is the only current issuer of the state's special obligation lease-rental bonds.
Conduit Financing Programs
The Treasurer of State currently serves as issuer to the Ohio Enterprise Bond Fund and to the State Infrastructure Bond Fund, for which no state credit is pledged.