Bond Program Summaries
The Commonwealth borrows for its capital needs by accessing the capital markets through the sale of bonds. Most of its borrowing is done through the sale of General Obligation (G.O.) Bonds. G.O. bonds are secured by a pledge of the Commonwealth’s full faith and credit.
Other bond programs are secured by specific revenue sources. For example, the Commonwealth’s highest rated bond program The Commonwealth Transportation Bond program, which is rated ‘Aaa’ by Moody’s and ‘AAA’ by Standard & Poor’s, is secured by revenues received from the state’s tax on gasoline as well as Registry of Motor Vehicle fees.
Please see the summaries below for more information on the outstanding bond programs.