County commissioners approve issuing nearly $14 million in bonds

October 24, 2001|BY A SUN STAFF WRITER

The Carroll commissioners approved yesterday issuing nearly $14 million in bonds - with the expectation of historically low interest rates - to finance roads and other public works projects.

The two series of general obligation bonds will be sold at a competitive sale this year. Now that the commissioners have approved the bond resolution, the county's financial consultants can circulate a notice of sale.

The first issue is for $11.5 million, for a term of 15 years, to finance general public works, including the new Agriculture Center and Winters Mill High School in Westminster and several road projects. About $1 million will be earmarked for Winter's Mill, a $35 million project for which the county has allocated most of the funds.

Commissioner Robin Bartlett Frazier voted against the issue because it contained money for a high school that she opposes.

The board unanimously approved a $2.2 million, 20-year loan for improvements to Carroll County Regional Airport.

A. Samuel Ketterman, first vice president for public finance with Davenport & Co., a Towson investment company, said rates could fall below 4 percent.

County Comptroller Gene Curfman said, "This is the year for us [for] bond money. We will not get interest rates lower than this."

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