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Carroll County sells bonds at 3.45% after retaining AAA rating
Summary
County finance staff reported a successful bond sale to Truist Securities at a 3.45% interest rate; commissioners adopted the award resolution, and advisors noted Carroll's rate compared favorably to other Maryland issuers.
Carroll County's finance team reported Nov. 20 that the county received nine competitive bids for its annual bond sale. The winning bidder, Truist Securities, offered a true interest cost of 3.45 percent. Staff and bond counsel said the county retained a AAA rating from the rating agency and that the final rate was slightly higher (about 0.02 percentage points) than last year but lower than most other recent Maryland issuers.
Financial advisors recommended formal acceptance of the low bid and the board adopted an award resolution to execute the sale and proceed with closing.
Commissioners thanked staff and consultants for their work in the transaction and noted the favorable market outcome would lower the county's borrowing costs for planned capital projects.
