Treasurer Sprague Announces 2026 OMAP Savings for the City of Springfield

Treasurer Sprague Announces 2026 OMAP Savings for the City of Springfield

COLUMBUS - The Ohio Market Access Program (OMAP) administered by Ohio Treasurer Robert Sprague has helped the City of Springfield (Clark County) enter the market and save an estimated $52,721 in interest costs.

"By leveraging the Buckeye State's high short-term credit rating, OMAP allows local communities to borrow at a low cost and fund improvements to their infrastructure," said Treasurer Sprague. "We're proud to continue our partnership with the City of Springfield and help them save over $208,000 on borrowing costs."

The city's notes were issued to fund municipal sewer and water system upgrades. This issuance marks the ninth time the City of Springfield has utilized OMAP, and the previous deals saved the city an estimated $155,718 over the last decade. The most recent deal will save the city an estimated $52,721 in interest costs.

OMAP is a credit enhancement program that leverages the state's excess liquidity and high short-term credit rating to help improve market access and lower borrowing rates for local governments. Since its 2014 launch, OMAP has supported more than 395 deals, ranging from $365,000 to over $100 million. There have been no defaults, and to date, OMAP has generated more than $8.4 million in estimated savings for local governments.

Any government subdivision in good fiscal standing, including cities, villages, school districts, counties, townships, and special districts, issuing short-term debt is eligible to participate. For more information, visit https://omap.ohio.gov/.

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