Wednesday, August 20, 2014

Tennessee issues bonds
The State of Tennessee completed the sale of just over $190 million worth of general obligation bonds Thursday at some of the lowest interest rates in Tennessee history. The combined true interest cost of the bonds is 2.99%. They will be used to fund new capital projects and refinance currently outstanding bonds. The refinanced bonds will save Tennessee taxpayers $6.9 million over a 16 year period, according to Comptroller Justin P. Wilson. He says Tennessee continues to be a low debt state, and its bonds are very attractive to buyers. Wilson said Tennessee has a sterling reputation for having one of the lowest debt levels in the nation, and repaying it down quickly.


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