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Howard County completes $76M bond sale

Howard County Executive Calvin Ball announced Wednesday that $76 million in Public Improvement (CPI) and Metropolitan District bonds were sold via a competitive bid process.

True Interest Cost (TIC) for CPI and Metro Bonds came in at 2.20 and 2.64, respectively. These bonds are valued in the marketplace in large part due to the county’s AAA credit rating, which was affirmed by all three credit rating agencies last month.

Notable projects funded through the bond sale include New Elementary School No. 42, Talbott Springs Elementary replacement, High School No. 13, Blandair Regional Park, Police Department building upgrades and renovations, storm drain improvements and upgrades to the Little Patuxent Water Treatment facility.

This month, Howard County was one of just 49 counties among more than 3,000 nationwide to earn a AAA credit rating from all three bond ratings agencies. Fitch Ratings, Moody’s Investor Services and Standard & Poor’s all noted Howard County’s strong economy and financial flexibility.