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Commissioners debate 15‑ vs 20‑year amortization and whether to accelerate firehouse projects
Summary
County staff and financial advisors presented modeling showing a modest short‑term debt‑service relief from shifting some bonds to a 20‑year amortization but significantly higher total interest; commissioners weighed the tradeoffs while also directing staff to explore scheduling and staffing options to accelerate St. Leonard (Company 7) and Solomons (Company 3) projects.
Calvert County commissioners spent an extended work‑session segment reviewing capital‑planning options and bond amortization scenarios after staff briefed them on recommendations from financial advisors.
Key points: Davenport, the county’s financial advisor, modeled the effect of extending amortization from 15 to 20 years for qualifying capital projects. Staff said a 20‑year amortization could free about $2.5 million in annual debt service under a static market assumption but would add roughly $26.2 million of interest over the life of modeled bond issuances. Commissioners raised concerns about shifting costs to future taxpayers…
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