July 8: Governor Bullock Announces $1.6 Million in Savings

Press Release

Governor Steve Bullock today announced that the State of Montana has saved $1.642 million by refinancing outstanding bonds issued to fund infrastructure projects in Montana.
"On the heels of Montana being named the most fiscally responsible state in the nation, we are continuing to build on that record," said Bullock. "With the actions today, my administration is ensuring we continue to use all means at our disposal to save Montana taxpayers money."

Bonds are being refinanced at lower interest rates, resulting in a savings to Montana taxpayers of over $1.642 million. In total, the State of Montana has saved approximately $6.05 million by refinancing bonds to lower interest rates.

The bonds refinanced today were issued by the 2005 and 2007 Legislature to build the Dillon National Guard Armory, renovate Gaines Hall at Montana State University, expand and enhance the Montana Agriculture Experiment Stations, provide funding for the Montana Tech Natural Resources Building/Montana Bureau of Mines and Geology, as well as funding for City College in Billings, Helena College, Great Falls College and the Montana Historical Society.

"Montana's strong financial management practices continue to yield results for taxpayers," said Budget Director Dan Villa. "Best practices like these that Governor Bullock demands of his Cabinet and staff will continue to challenge expenses while simultaneously continuing record investments in education, public safety, and healthcare."

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