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Treasurer's office recommends school construction aid flow through bond bank to protect state credit
Summary
The treasurer’s office proposed routing state school construction subsidies through the Vermont Bond Bank and using a proportional debt-service subsidy model so the program supports districts while keeping large borrowing off the state’s net tax-supported debt.
Ashley Goian, director of policy in the state treasurer’s office, told the Finance committee the office supports restarting a state aid for school construction program but recommends structuring awards through the Vermont Bond Bank (or similar fiscal agent) and using a debt-service subsidy model so the support does not count as the state’s net tax-supported debt.
“The intent in presenting this proposed amendment from the treasurer’s office is to fortify what we think is already the intent in this school construction section while at the same time protecting the state's bond ratings,” Goian said. She described…
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