The Calvert County Board of County Commissioners voted to award the sale of $69,327,533 in public improvement general obligation bonds during a public meeting held Dec. 19, 2023.
The purpose of the bond sale is to help finance projects to improve, upgrade and construct county infrastructure and facilities, including Beach Elementary; North Beach (Company 1) and Dunkirk (Company 5) volunteer fire departments; detention center; Twin Beaches Library; Calvert Pines Senior Center; Chesapeake Hills Golf Course Clubhouse; County Administration Building; Barstow Salt Dome; roadway repairs and safety improvements for Little Cove Point Road, Ball Road, and road drainage throughout the county; and various water and sewer improvements, expansions and upgrades. The bonds will also fund the purchase of new Career EMS apparatus and Breezy Point shoreline restoration.
The winning bids for the bond sale came from Morgan Stanley & Co., LLC, at a true interest rate of approximately 2.86%.
In December 2023, Calvert County Government received AAA credit ratings from three independent credit agencies due to the county’s strong economy, robust revenues and sound financial management. The AAA credit rating allows the county government to receive funding through bond sales at a lower interest rate for major capital projects.
For additional information, contact the Calvert County Department of Finance & Budget at 410-535-1600, ext. 2836, or by email at bruce.miller@calvertcountymd.gov
Find information on Calvert County Government services online at www.CalvertCountyMd.gov. Stay up to date with Calvert County Government on Facebook at www.facebook.com/CalvertCountyMd and YouTube at www.youtube.com/CalvertCountyGov.
