Gov. Nathan Deal said the state of Georgia successfully sold $685 million in general obligation bonds to fund new construction projects and to make repairs and renovations to existing facilities throughout the state.
“These bonds were sold at very low rates given current market conditions and that translates into savings for Georgians,” Deal said in a statement. “The state’s AAA bond ratings enable us to invest in vital infrastructure around the state in a fiscally responsible manner and provide for more employment opportunities for our construction industry which was hit so hard by the recession.”
The Georgia State Financing and Investment Commission, which is responsible for issuing the state’s bonds, approved the bond sale at its meeting on June 27. The bond issues were sold on a competitive basis with investors showing solid demand for Georgia’s highest rated bonds.