This week, Wicomico County sold $14.56 million in general obligation and tax-exempt bonds to finance several major capital projects. The County also sold $8.265 million in taxable bonds to fund specified projects at the SalisburyWicomico Regional Airport.
Earlier this month, S&P Global Ratings affirmed the County’s solid AA+, and Moody’s Investors Service affirmed the County’s rating of Aa2.
“All of these projects continue moving Wicomico County forward. Even with the current bond market variability, the counties’ rates reinforce that fiscal management in Wicomico County continues to be strong,” said Acting County Executive John Psota.
According to Wicomico County:
The general obligation tax-exempt bonds carry a true interest cost of 3.929831%. The County’s issue drew a strong market response of 9 bidders, which is indicative of the attractiveness of its bonds. The taxable bonds had 4 bids and the true interest cost is 5.312076%.
Wicomico County’s bond issue reinforces the County’s commitment to education and economic development for the County. Included in the bond issue is funding for the Board of Education’s renovation/addition project at Mardela High/Middle School, Wor-Wic Community College Applied Technology Building, and Salisbury-Wicomico Regional Airport among other capital project needs.