County awards bond issues to Legg Mason

November 19, 2003|BY A SUN STAFF WRITER

Moving to raise money to pay for various county projects, the Carroll commissioners awarded $11 million in bond issues yesterday to Baltimore-based Legg Mason Wood Walker Inc.

The interest rate of the 15-year issues, 3.3 percent, was the lowest among five bids received and also was the lowest for the county in recent years, county Comptroller Gene Curfman said, telling the commissioners, "The market has been going our way for a couple of days, and we hit the mark."

The bond issues are to cover $2.1 million in loans made to volunteer fire companies in the county. The remaining money would go to planning and construction of Parr's Ridge Elementary School in Mount Airy and improvements to Carroll County Regional Airport and the county's roads and bridges.

The county is to pay about $3.18 million in interest over the 15 years, Curfman said.

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