Bonds Sold To Fund Howard County School, Government Projects

Columbia MD

18 February, 2021

3:07 PM

Description

HOWARD COUNTY, MD — A total of $152,225,000 Public Improvement (CPI) and Metropolitan District bonds have been sold for Howard County via a competitive bid process. True Interest Cost (TIC) for CPI and Metro Bonds came in at 1.4 and 1.7 respectively. This has been the second lowest TIC for both CPI and Metro Bonds in the past 20 years. These bonds are considered "highly valued" in the marketplace due to the county's AAA credit rating, which was affirmed by all three bond rating agencies this month. "Though Howard County and other jurisdictions are facing unprecedented financial challenges amid the COVID-19 response, we are continuing to practice sound fiscal management and smart stewardship of taxpayer dollars," Howard County Executive Calvin Ball said in a news release. "Our team worked thoughtfully to execute a successful bond sale, and this allows us to invest in important community projects while respecting taxpayer dollars." Notable projects funded through the bond sale include: High School #13; Hammond High School renovations; Talbott Spring Elementary School replacement; Howard Community College Nursing & Science building; The new Howard County Courthouse; Howard County Detention Center renovations; Storm drain improvements; and Upgrades to the Little Patuxent Water Treatment facility.