State completes bond sale to finance improvement projects
Nevada’s state treasurer on Thursday completed the sale of $161.2 million in general obligation bonds, a series of transactions that will help fund capital-improvement projects statewide.
The bonds were sold with an average interest rate of 3.6 percent, one of the lowest rates the state has ever received, state Treasurer Kate Marshall said.
The bonds were sold in two blocks, the treasurer’s office said. The first two series totaled $142.09 million, with $23.1 million for new projects in fiscal year 2011 and an additional $29 million set aside for the 2012 fiscal year. The rest of the proceeds will go to refinance previously issued bonds.
The last three series of bonds totaled $19.2 million to fund water and sewer projects through the state’s Clean Water and Safe Drinking Water Revolving Fund.