ANNAPOLIS/SOUTH COUNTY--Davidsonville * Edgewater * Shady Side * Deale

June 08, 1993

Annapolis retains top bond rating

Annapolis has maintained a top bond rating that will allow the city to continue to borrow money at the same low interest rate.

For the seventh year, Moody's Investor Services of New York has given the city an A1 rating, city Finance Director William Tyler said. The city sells bonds in conjunction with the state, he said.

Anne Arundel County has an AA1 rating, a notch higher than the city's, but fears a drop because the property tax cap approved by voters in November has decreased its ability to collect revenue.

In a report on Annapolis, Moody's analysts wrote that the city continues to have a strong tourism industry and has a stable economy buttressed by the state government and the Naval Academy.

"It's a good report for the city," Mr. Tyler said.

Edgewater man faces drug charge

An Edgewater man was charged with possession with intent to distribute PCP Thursday after county police, acting on a tip, stopped him as he was driving down Central Avenue.

Narcotics investigators said they received a tip that Robert Cheek, 30, was going to Prince George's County to buy a bottle of liquid PCP. The officers followed Mr. Cheek into Prince George's County, then back into Anne Arundel. They stopped him about 8:45 p.m. at the intersection of River Road and Central Avenue, searched his car and found an ounce of PCP valued at $1,600, police reported.

Mr. Cheek, of the 400 block of Londontown Road, was taken to the Southern District station to be charged.

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