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STATE LOOKING TO BORROW OVER $900 MILLION THROUGH BOND SALES

3/31/2013

The state is looking to borrow a large amount of money for various state-funded programs.

Published reports say Pennsylvania is looking to borrow $950 Million next month through the sale of tax-exempt general obligation bonds.  This marks the second year in a row that Pennsylvania has invited bids on this bond sale.  This matches what the state did last year to borrow $950 million, which had been the most money that had been borrowed since 2006. 

The money from this year’s bond sale will go to fund $40 million worth of Environmental cleanup projects through the Growing Greener II initiative, $110 million in water and sewer upgrades through the Pennvest fund and $800 million in various road, bridge, and public building improvement projects.  The bonds will go on sale Tuesday.


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