Ohio treasurer offering up cheaper money for public loans

Local News

YOUNGSTOWN, Ohio (WKBN) – Ohio Treasurer Robert Sprague is pushing to help people save money when they borrow for big projects.

Sprague made a stop Tuesday at Youngstown State University to sit down with president Jim Tressel as well as administrators with Mercy Health and local banks to discuss his new “Ohio Gains” initiative.

It would allow the state’s $20 billion treasury to offset higher interest charges and allow certain groups to save money when they borrow or sell bonds to pay for needed expenses.

“What we’d like to do is try to help our four-year public universities, try to help our institutions through our hospital systems like Mercy Health, and then also help our farm community by providing essentially lower interest rate loans,” Sprague said.

The program would require changes in existing law. Valley state Senator Michael Rulli is one of those sponsoring the needed legislation.

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