Item 18

Authorize the State Treasurer to proceed with the sale and issuance of up to $100 million of general obligation (“new money”) bonds through a competitive process, negotiated sale, or private placement. This resolution will have an expiration date of March 31, 2018. (2)Further authorize the State Treasurer to conduct the sale and issuance of up to $100 million of general obligation bonds through a competitive process, negotiated sale, or private placement to refund outstanding general obligation bonds of the State to generate net present value debt service savings of at least three percent of the par value of the refunded bonds. This resolution will also have an expiration date of March 31, 2018.