State selling record amount in bonds to finance local projects

In order to provide infrastructure improvements in six jurisdictions, the Maryland Department of Housing and Community Development is selling a record-high $41 million in bonds through the Local Government Infrastructure Financing program.

Proceeds from Monday’s sale — the largest in the 26 years of the program — will fund the following local projects: shoreline protection in Charlestown, emergency response equipment in Cumberland, street improvements in North East, water and sewer improvements in St. Mary’s County and a wastewater treatment plant upgrade in Taneytown.

The program, designed to generate savings in the costs of borrowing by pooling local demand, has financed 346 projects totaling over $340 million.