County Gets The Cash

October 31, 1990

Sometime this morning, the county's checking account will be about $15.5 million bigger, as the money from Carroll's Oct. 16 bond offering makes its way here.

In what bond experts call a technical move, county commissioners yesterday signed the paper work that frees up the $15.5 million in AA-rated general obligation bonds sold in Baltimore two weeks ago.

"This is the closing of the sale," said Andrew C. Kidd a lawyer with Piper & Marbury, the county's Baltimore-based bond counsel. "It is what actually allows the county to get the money."

The bonds were a hit on Wall Street, selling out rapidly. They carry and interest rate of slightly more than 7.2 percent. The money is earmarked for several projects. About $9.4 million will be lent to Carroll County General Hospital for their capital improvement projects. Some $4.2 million is to go toward the building of county office buildings; $1.6 million for school construction; and about $300,000 will be lent to the county's volunteer fire companies.

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