Vermont sells $110 million in bonds in 3 offerings to help fund state projects


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MONTPELIER, Vermont — The Vermont treasurer's office says the state has sold $110 million in bonds to help fund a variety of projects around the state, including construction of the new Vermont Psychiatric Care Hospital in Berlin.

Treasurer Beth Pearce says the bonds were sold in three offerings.

She says Vermont has two triple-A ratings and one double-A-plus rating. She says a higher rating leads to lower interest rates, which saves money.

Pearce says the money raised by the bond sale provides funding for capital projects that include major maintenance to state buildings, school construction and individual projects such as the state's share of the new psychiatric hospital. Some of the bonds will refinance earlier, more expensive bonds.

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