MYworldfix

In a significant financial move, Harford County has successfully completed its annual bond sale, raising funds to support essential public infrastructure. With an impressive AAA bond rating from leading agencies, the county managed to secure a low 3.49% interest rate. The proceeds will be used for various capital projects, including new schools and community facilities. This achievement underscores the county's strong fiscal management and investor confidence in its economy.

Detailed Coverage of Harford County's Successful Bond Sale

In the heart of Maryland, Harford County recently conducted its yearly bond auction, drawing attention from multiple financial institutions. Among the fifteen bidders, Mesirow Financial emerged as the successful purchaser, acquiring $60 million in consolidated public improvement bonds. These bonds, rated AAA by Fitch, Moody’s, and Standard & Poor’s, will be repaid over a two-decade period.

Harford County stands out as one of the select few—less than 2% of all U.S. counties—to achieve this top-tier rating from all three major rating agencies. This prestigious status not only reflects the county's robust financial health but also significantly reduces borrowing costs. The funds raised will play a crucial role in financing several key projects:

• A new combined elementary school and academy for students with special needs
• Retrofitting Harford Technical High School
• Construction of Homestead Wakefield Elementary School
• Expansion of Harford Community College’s Chesapeake Welcome Center
• Upgrades to roads, bridges, stormwater systems, and wastewater infrastructure

County Executive Bob Cassilly expressed gratitude to the financial advisors, bond counsel, and county staff for their efforts in achieving these favorable results. He emphasized that the high ratings and investor confidence are direct outcomes of prudent expense management and controlled debt levels.

From a journalist's perspective, this event highlights the importance of sound fiscal policies in local governance. It demonstrates how responsible financial stewardship can lead to tangible benefits for residents, such as improved educational facilities and infrastructure. The success of this bond sale serves as a benchmark for other municipalities aiming to enhance their financial standing and deliver quality services to their communities.