Tennessee sold $170.5 million of general obligation bonds on Nov. 14 at the lowest overall interest rates in more than 40 years, state officials said.

The offering of $140 million of tax-exempt GOs and $30.5 million of taxable GOs achieved a combined true-interest cost of 2.05%. Proceeds from the tax-exempt bonds will be used to fund new capital projects, while the proceeds from the taxable issue will be used to refinance currently outstanding bonds.

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