Treasurer Sprague Announces 2024 OMAP Savings for the City of Fairborn

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the City of Fairborn (Greene County) enter the market to refinance outstanding debt and save an estimated $11,952 in interest costs.

“The OMAP credit enhancement unlocks lower interest rates for local municipalities so they can make important community improvements at a reduced cost,” said Sprague. “The City of Fairborn has now utilized this program three times over the last year to successfully save tens of thousands of dollars.”

The original note was issued to contruct and remodel the existing police building, construct and install new water lines, replace the roof of the the Municipal Court Building, and to make general improvements. Proceeds from the new bond anticipation notes will be used to improve the minucipal water system and acquire filter control consoles. Through this issuance, the city has now utilized OMAP three times to achieve savings. The previous two deals saved the city an estimated $16,066 in interest expenses.

OMAP is a credit enhancement program that leverages the state’s excess liquidity and high short-term credit rating to help improve market access and lower borrowing rates for local governments. Since its 2014 launch, OMAP has supported more than 290 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $5.5 million in estimated savings for local governments.

Any government subdivision in good fiscal standing, including cities, villages, school districts, counties, townships, and special districts, issuing short-term debt is eligible to participate. For more information, visit