| Debt Management |
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The Treasury Division oversees the state's debt management policies and guidelines. The division maintains a debt capacity model that is used to determine th estate's debt capacity and the forecast debt service cost of future capital budgets. The Treasury Division sells the state's general obligation bonds into the bond market. The proceeds from the sale of the bonds are used to pay the cost of building the capital projects that are approved by the Legislature.Federal tax law regulates the issuance of tax-exempt bonds. Certain tax-exempt bonds must receive an allocation from the state prior to the issuance of the bonds. The Treasury Division is responsible for the administration of the state's tax-exempt bonding allocation law. |
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