Today, Wicomico County sold $4.195 million in general obligation and tax-exempt bonds to finance several major projects in the county. The bonds carry a true interest cost of 4.325345%. The County’s issue drew a strong market response of 5 bidders, which is indicative of the attractiveness of its bonds.
The County also sold $7.645 million in taxable bonds to finance certain projects at the Salisbury-Wicomico Regional Airport. The taxable bonds had 4 bids and the true interest cost is 5.709504%.
Earlier in October, S&P Global Ratings affirmed the County’s strong AA+ and Moody’s Investors Service affirmed the County’s rating of Aa2.
Wicomico County’s bond issue reinforces the County’s commitment to education and economic development. Included in the bond issue is funding for the Board of Education’s renovation/addition project at Mardela High/Middle School, and projects at the Salisbury-Wicomico Regional Airport among other capital project needs.
County Executive Julie M. Giordano said, “These projects are emblematic of our prioritization of education and economic development. The rates reinforce the strong fiscal management administered by our finance department led by Director Pamela B. Oland.”
