SCDOT pays off outstanding debt

COLUMBIA, S.C. (WCBD) – The South Carolina Department of Transportation officials announced the agency made a final payment on highway bonds and loans, clearing all outstanding dept.

SCDOT said the agency can reinvest money into ongoing projects, and money will also be saved on future interest payments.

The debt payoff makes SCDOT one of six state transportation agencies in the United States with no outstanding bonds and loans.

“I’m proud to announce that we have reached this significant milestone,” said Secretary of Transportation Christy A. Hall, P.E. “We are grateful to Governor McMaster and the South Carolina General Assembly for their continued investment in our work and we take seriously our responsibility to be responsible stewards for the people of South Carolina.”

Officials said SCDOT is in a better financial position to preserve and build debt capacity to finance larger projects.