Arundel Digest

Arundel Digest

March 06, 2003

Interest on bond issue declined 1 point last year

Anne Arundel County officials announced yesterday that the county's interest rate for its $211 million bond issue decreased to 3.673 percent from 4.678 percent last year.

The rate - which was the bid of Morgan, Stanley Dean Witter - reflects falling interest rates nationwide. But it also follows major financial rating services' expressions of concern over how state budget cuts might affect the county's financial status.

The bond issue consists of $86 million to refinance existing bonds, $80 million to pay off bond anticipation notes and $45 million for new capital projects.

Owens unveils changes for subdivision permits

As part of what County Executive Janet S. Owens deemed an effort to "streamline the permitting process," she announced yesterday that she has created a single review system for subdivisions and a single point of intake for applications.

She said the move will keep subdivision review records in a centralized location.

The environmental and zoning review staff from the Department of Inspections and Permits will fall under the Office of Planning and Zoning. The customer service center will handle all permits and subdivision applications.

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