Investments in state bonds open to Washington residents; sale begins June 23

Staff writerJune 16, 2014 

Help finance state projects. Earn a profit. Avoid income tax.

What better way to invest in the Evergreen State?

State Treasurer James McIntire has announced that Washington residents will have an opportunity to participate in the latest round of “Buy Washington Bonds.”

Washingtonians will be able to place orders for tax-exempt state general obligation bonds beginning June 23, ahead of the window for institutional investors.

Bonds will be sold in denominations of $5,000 and will pay semi-annual interest and the principal will be returned at maturity. Interest rates will be determined on the pricing date, and interest payments are exempt from federal income tax.

Proceeds from the 2014 sales will go toward state capital construction projects including K-12 schools, community colleges and four-year universities in the state.

Local projects include a new campus for Harrison Preparatory School, a new Auburn High School and a health-careers center at Tacoma Community College, among others.

The bonds are rated AA+ by Fitch and Standard & Poor’s, and Aa1 by Moody’s.

For more information visit www.tre.wa.gov, and for a list of participating brokers visit www.tre.wa.gov/buyWashingtonBonds/participatingFirms.shtml.

 

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