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Chesapeake Beach council approves up to $6.1 million in bonds to help finance $19M water-park rebuild
Summary
The Chesapeake Beach Town Council voted 5–1 on March 19 to adopt Ordinance O-26-2, authorizing up to $6,100,000 in general-obligation bonds to help fund a roughly $19 million water-park reconstruction. Council debate focused on procurement history, project costs and the town's broader funding package.
Chesapeake Beach — The Town Council voted on March 19 to adopt Ordinance O-26-2, authorizing the issuance and sale of up to $6,100,000 in Chesapeake Beach Infrastructure Bonds, 2026 Series A, to help finance the town's water-park reconstruction, related site and utility improvements, reserves and issuance costs.
The ordinance specifies the bonds will be issued pursuant to Sections 4-101 through 4-255 of the Housing and Community Development Article of the Annotated Code of Maryland and may be secured by the full faith and credit of the town. Council members said the bond authorization is one element of a funding package the town expects to total about $19 million for the project: roughly $1.1 million from a state bond bill, about $12 million from town reserves, and the remainder to be financed by bonds.
“[T]his is a portion of that funding for the rebuilding of the water park,” the Town Administrator said while summarizing the ordinance and the broader financing plan. The administrator also noted the $19 million figure includes contingencies and project-management costs.
Council discussion included concerns about contract procurement procedures and the historical ledger of water-park expenditures. One council member said on the record that procurement and price issues motivated a planned “no” vote. The council took a roll-call-style voice tally: five votes in favor and one opposed; the meeting record shows the opposing vote came from a council member who publicly stated opposition before the vote.
The ordinance allows the town to levy annual taxes on all assessable property within the corporate limits to pay principal and interest should that be necessary. Town staff said further details about bond terms — including final maturities, interest-rate-setting methods and sale procedures — will be finalized as the issuance process moves forward.
The ordinance passed after motion and second. The council did not identify named movers or seconders in the public record during the meeting; a council member explained their vote for the record prior to the voice tally. The Town Council also recorded that one member had opposed the measure.
Next steps: With ordinance adoption, staff will proceed with the bond-issuance process and associated approvals. The council discussion indicated public updates will continue as construction and contracting proceed.
