Treasurer Sprague Announces Latest Round of 2025 Savings Through OMAP

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped two Ohio communities enter the market and save a combined total of $17,126 in interest costs. 

“OMAP utilizes the state’s excess liquidity to help local governments obtain more competitive interest rates, which drives down borrowing costs,” said Treasurer Sprague. “We’re proud to continue partnering with the Village of Pemberville and the City of Delaware to assist them in saving thousands of dollars as they make essential infrastructure upgrades.”

Village of Pemberville (Wood County)

Pemberville’s notes were issued to fund improvements to replace a transformer, circuit breaker, and switchgear at its Electric Street substation. This deal marks the third year that the Village of Pemberville has participated in OMAP. Prior to this year, OMAP has saved the village an estimated $15,472 in interest expenses. This deal will save the village an estimated $8,476 in interest costs.

City of Delaware (Delaware County)

Delaware’s notes were issued to fund public roadway and transportation improvements. This deal marks the fourth time the City of Delaware has utilized OMAP. Prior to this year, OMAP has saved the city an estimated $34,929 in interest expenses. This latest deal will save the city an estimated $8,650 in interest costs.

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 365 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $7.8 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 https://omap.ohio.gov/.

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