Tag Archives: sold

State Sells Bonds at 2.05% — Lowest Rate Ever

News release from state comptroller’s office:
The State of Tennessee sold more than $170 million worth of general obligation bonds this week at the lowest overall interest rates in more than 40 years. The debt offering was sold in two parts, consisting of $140,000,000 in tax-exempt bonds and $30,525,000 of federally taxable bonds. The combined true interest cost of the bonds was 2.05 percent.
The tax-exempt bond proceeds will be used to fund new capital projects while the proceeds from the taxable issue will be used to refinance currently outstanding bonds.
The refinanced bonds will result in present value savings to the state of $2,607,000 over an eight-year period.
“We chose to refinance some of our bonds at this time because interest rates were so low,” said Comptroller Justin P. Wilson, who serves as secretary of the State Funding Board. “The low interest rates we were able to get demonstrate, once again, that the state is in excellent financial health.”
“Over the last 15 months, we have saved the state more than $63.6 million through refinancing, said State Treasurer David H. Lillard Jr., who is also a State Funding Board member. “We believe that’s part of our mission to be good stewards of public money.”
“Tennessee has continued to maintain strong credit ratings, which makes low interest rates possible,” said Secretary of State Tre Hargett. “We are able to maintain those credit ratings because of the excellent work done by the General Assembly, the governor and his administrative staff in managing our state’s finances.”

Joe Armstrong Gets Minted (after sellout of Obama Mints)

Apparently, the Obama DisappointMints that offended state Rep.Joe Armstrong after he found them on sale at the UT bookstore, have sold out. And now there’s a Joe Armstrong “Strong Arm Censored Mint.”(Hat tip to Michael Silence)
The maker’s website indicates they were selling the original Obama DisappointMints for $5 a tin. UT Bookstore was charging $2.99.
So you might say the maker made a mint thanks to having the product taken off the UT market. Now maybe UT could offer the seized and unsold mints as collectors items – or a bonus to the purchaser of the unsold UT president’s home. Or something.
The new mint:
armstrong.jpg