Ohio treasurer closes $50M bond deal to improve state’s infrastructure

COLUMBUS — Ohio Treasurer Kevin L. Boyce announced today the completion of a $50 million bond sale to improve the state’s logistics and distribution infrastructure, saving $2.1 million in the deal by using a federal stimulus program.

The sale marked the first time Ohio has used the Build America Bond Program in a bond deal, a move that helped the state cut down on interest costs.

The deal also was the first bond issuance under the state’s $100 million Logistics and Distribution Infrastructure Program, administered by the Ohio Department of Development and created as part of the $1.57 billion Bipartisan Job Stimulus Plan passed last June by the Ohio General Assembly.