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The state of Rhode Island has sold about $54.6 million in bonds to fund technology projects, according to the office of general treasurer Frank Caprio.
The state sold about $12.4 million in 2009 Series A bonds to fund IT upgrades to outdated systems. The Series A bond sale will also benefit technology modernization projects for educational data collection, post secondary teacher training, and elementary and secondary education. The state judicial department’s IT infrastructure will also be overhauled. The Series A Bonds ranged in yield from 1.23 percent in 2010 to 4.08 percent in 2016.
The state also sold about $11.8 million in Series B bonds to fund energy conservation projects at the University of Rhode Island, including replacing energy equipment such as boilers, heating systems, air conditioning systems and lighting systems. The yields on the Series B bonds ranged from 1.25 percent in 2010 to 4.80 percent in 2019.
The state also sold about $30.4 million in Series C bonds to go toward a new building for the Rhode Island School for the Deaf. The Series C bonds ranged in yield from 1.25 percent in 2010 to 5.66 percent payable in 2029.
Janney Montgomery Scott LLC and Barclays Capital were lead underwriters on the sale.
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