Wicomico County Sells Bonds to Finance Several Major Projects
Wicomico County sold $4.1-million in general obligation and tax-exempt bonds on Tuesday. This bond sale will finance several major projects in the county. The county also sold $7.6-million in taxable bonds to finance certain projects at the Salisbury-Wicomico Regional Airport. The bond issue reinforces the county’s commitment to education – for a renovation/addition project at Mardela High & Middle School and economic development – projects at the airport and other capital project needs.
Additional information from Wicomico County:
The bonds carry a true interest cost of 4.325345%. The County’s issue drew a strong market response of 5 bidders, which is indicative of the attractiveness of its bonds.
The taxable bonds had 4 bids and the true interest cost is 5.709504%.
Earlier in October, S&P Global Ratings affirmed the County’s strong AA+ and Moody’s
Investors Service affirmed the County’s rating of Aa2.
County Executive Julie M. Giordano said, “These projects are emblematic of our prioritization of education and economic development. The rates reinforce the strong fiscal management administered by our finance department led by Director Pamela B. Oland.”
