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St. Mary's County sells $30 million in bonds at 1.62% interest; commissioners authorize administrator to accept award
Summary
St. Mary's County sold $30 million in general-obligation bonds at a 1.62% all-in true interest cost, received roughly $4 million in premium to apply to projects, and the commissioners voted to authorize the county administrator to accept the bid as certified by the chief financial officer.
St. Mary's County commissioners on May 11 approved a motion authorizing the county administrator to accept the certified award for a $30 million bond sale, concluding a transaction that produced an all-in true interest cost of 1.62 percent and a premium of roughly $4 million.
The county received bids from 10 underwriters, with visible rates ranging from 1.58% to 1.68% before the final sizing and inclusion of underwriting fees. Chief Financial Officer…
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