Baltimore County is seeking to refinance billions in bonds and issue $365 million in new bond anticipation notes to pay for capital projects.
Through a bill introduced at the County Council’s work session Monday, County Executive Johnny Olszewski Jr.’s administration is asking for approval to refund up to $3 billion in bonds, effectively reducing the amount of interest the county owes on $2.38 million in bonds collected between 2009 and 2020.
The county saved $9.4 million in interest payments, for instance, when it refunded $54.1 million in bonds in July, according to the bill’s fiscal note.
The proposed bill comes without a set date for when the money must be refinanced, so it’s unclear how much interest may be pared through refinancing.
Click here to read the rest of the article written by Taylor DeVille over at The Baltimore Sun
