Howard County Council approves pledge resolution to support new jail bonds
Council voted to approve Resolution 14, a pledge resolution designed to secure bonds for a new county jail by pledging certain local income-tax revenues and a property-tax backup (intended as credit enhancement). Bond counsel said the structure is bifurcated to address state LIT changes effective in 2029.
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The Howard County Council on June 23 approved Resolution 14, a pledge resolution that will underpin bond financing for a proposed new county jail using a lease-and-building-corporation structure and a layered revenue pledge.
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