Treasurer Sprague Announces OMAP Savings for Knox County

COLUMBUS – The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped Knox County enter the market and save an estimated $2,742 in interest costs. This issuance marks the first time the county has utilized OMAP to achieve savings.

“By using the power of Ohio’s treasury, OMAP works to improve market access for our county government partners and drive down overall interest costs,” said Treasurer Sprague. “We’re glad to see Knox County taking advantage of this program for the first time as they finance important infrastructure upgrades.”

Knox County’s notes were issued to fund property acquisition and improvements of West Chestnut Street.

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 370 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $7.7 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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