This week, Wicomico County sold $14.56 million in general bonds and tax-exempt bonds to fund several major capital projects. The county also sold $8.265 million in taxable bonds to fund specific projects at Salisbury Wicomico Regional Airport.
Earlier this month, S&P Global Ratings affirmed the county’s solid AA+, and Moody’s Investors Service affirmed the county’s rating of Aa2.
“All of these projects continue to move Wicomico County forward. Even with the current variability in the bond market, county rates reinforce that fiscal management in Wicomico County continues to be strong,” said Acting County Executive John Psota.
According to Wicomico County:
Tax-exempt general obligation bonds carry an effective interest cost of 3.929831%. The county’s issuance received a strong market reaction from 9 bidders, which is indicative of the attractiveness of its bonds. The taxable bonds had 4 bids and the true interest cost is 5.312076%.
The Wicomico County bond issue reinforces the county’s commitment to education and economic development in the county. The bond issue includes funding for the school board’s renovation/addition project to Mardela High/Middle School, Wor-Wic Community College Applied Technology Building, and Salisbury-Wicomico Regional Airport, among other capital project needs.
Visit the Wicomico County website for more information.