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Record Low Financing Rate Will Save Ohio Money

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SHUTTERSTOCK
Ohio received a 20-year financing rate of 2.35%.

Ohio is getting a great deal when it borrows money these days. The Office of Budget and Management reports the state received the lowest rate on financing on record.

When Ohio issued $300 million dollars in bonds to finance school construction, Budget and Management Director Kim Murnieks said the state received a 20-year financing rate of 2.35% - its lowest ever.

“Well, Ohio has a stable credit rating and we are seen as a good investment and here in Ohio, I think we have a reputation for always paying our debts," Murnieks said.

Murnieks said the lower interest rate means the state will have more money to spend on other things. Interest rates in the bond market are near their lowest points in recent history.

Jo Ingles is a professional journalist who covers politics and Ohio government for the Ohio Public Radio and Television for the Ohio Public Radio and Television Statehouse News Bureau. She reports on issues of importance to Ohioans including education, legislation, politics, and life and death issues such as capital punishment. Jo started her career in Louisville, Kentucky in the mid 80’s when she helped produce a televised presidential debate for ABC News, worked for a creative services company and served as a general assignment report for a commercial radio station. In 1989, she returned back to her native Ohio to work at the WOSU Stations in Columbus where she began a long resume in public radio.