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Commissioners approve up to $180 million in tax-exempt bonds for The Hill at White Marsh
Summary
The Montgomery County Board of Commissioners approved a resolution allowing the Montgomery County Industrial Development Authority to issue up to $180 million in tax-exempt revenue bonds to refinance The Hill at White Marsh, a continuing-care retirement community; county officials said the county assumes no financial obligation for the issue.
The Montgomery County Board of Commissioners voted Feb. 3 to approve a resolution authorizing the issuance of up to $180,000,000 in tax-exempt revenue bonds for White Marsh Continuing Care Community, doing business as The Hill at White Marsh.
Steve Forster, director of commerce, told the board the bonds would refinance several earlier series of bonds, repay an associated rate swap agreement and fund an interest reserve. He said the bonds…
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