Maryland Board of Public Works – August 12, 2020 Agenda

Maryland’s Board of Public Works (BPW) reviews projects, contracts, and expenditure plans for state agencies – many of which have an effect on county governments. The BPW is composed of Governor Larry Hogan, Treasurer Nancy Kopp, and Comptroller Peter Franchot. It meets on alternating Wednesdays and the meetings are open to the public. The meeting will be held in Governor’s Reception Room on the 2nd floor of the State House in Annapolis. Note: In light of the COVID-19 epidemic,…

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Maryland Generates $180 Million Premium from $1.1 Billion Bond Sale

The State of Maryland last week sold $1,011.4 million in general obligation (GO) bonds for capital projects. This included $540 million in new tax-exempt bonds, $115.8 million in tax-exempt refunding bonds, and $355.6 million in taxable advanced refunding bonds. Maryland typically issues tax-exempt GO bonds twice a year to support the State’s nontransportation capital program. The true interest cost (TIC) for the sale bonds is 1.11%. The TIC for the most recent bond sale on…

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July 22nd Board of Public Works Meeting: What Counties Need to Know

The Board of Public Works (BPW) considered and approved the following requests and recommendations in its July 22, 2020 meeting. This is not a comprehensive list of all considerations and approvals during the meeting. Allegany A request from the Maryland Department of the Environment for new grant funding up to $209,504 to the Allegany County Commissioners Department of Planning and Growth for the Upper Georges Creek Watershed Stream Sealing Design project.  This action is for…

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Maryland Board of Public Works – July 22, 2020 Agenda

Maryland’s Board of Public Works (BPW) reviews projects, contracts, and expenditure plans for state agencies – many of which have an effect on county governments. The BPW is composed of Governor Larry Hogan, Treasurer Nancy Kopp, and Comptroller Peter Franchot. It meets on alternating Wednesdays and the meetings are open to the public. The meeting will be held in Governor’s Reception Room on the 2nd floor of the State House in Annapolis. Note: In light of the COVID-19 epidemic,…

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Fitch Affirms Maryland’s AAA Rating in Advance of $1.1 Billion Bond Sale

Fitch Ratings affirmed Maryland's AAA bond rating in advance of the upcoming competitive sale of State General Obligation (GO) Bonds. Fitch Ratings assigned a AAA rating to the following GO bonds, state and local facilities loan of 2020, second series: $540 million series A, tax-exempt bonds (competitive) $155 million series B, tax-exempt current refunding bonds (competitive) $375 million series C, taxable advance refunding bonds (competitive) According to the Fitch Ratings analysis: Maryland's 'AAA' IDR reflects…

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July 1st Board of Public Works Meeting: What Counties Need to Know

Note: The Maryland Board of Public Works approved $413 million in state budget cuts at today's meeting, but several proposed cuts -- including $41.1 million in state aid to counties --  were withdrawn prior to the meeting. Read MACo's coverage here. The Board of Public Works (BPW) considered and approved the following requests and recommendations in its July 1, 2020 meeting. This is not a comprehensive list of all considerations and approvals during the meeting.…

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Board of Public Works Pares Cuts, Spares Counties

The Maryland Board of Public Works (BPW) today approved $413 million in state budget cuts proposed by Governor Larry Hogan to account for increased spending and reduced revenues amid the COVID-19 public health crisis. As previously reported on Conduit Street, the BPW — a three-member panel which includes Governor Larry Hogan, Comptroller Peter Franchot, and State Treasurer Nancy Kopp — was originally set to consider $672 million in state budget cuts as part of the effort…

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Counties: Hold Off On BPW Cuts, Until Things Are Clearer

A letter from multiple county leaders, including MACo President Sharon Green Middleton, calls for the state Board of Public Works to defer action on a number of budget cuts affecting counties - as the weeks ahead are likely to reveal more clarity on the state and county fiscal plight. With word that the Board of Public Works plans to consider a broad wave of budget cuts, including a number affecting county services, county leaders have…

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Franchot Says He Will Oppose Proposal to Slash County Disparity Grants
Maryland Comptroller Peter Franchot
Franchot Says He Will Oppose Proposal to Slash County Disparity Grants

Maryland Comptroller Peter Franchot is poised to oppose several of Governor Larry Hogan's proposed budget cuts to account for increased spending and reduced revenues amid the COVID-19 public health crisis. As previously reported on Conduit Street, the Board of Public Works -- a three-member panel which includes Governor Larry Hogan, Comptroller Peter Franchot, and State Treasurer Nancy Kopp -- tomorrow will consider $672 million in state budget cuts as part of the Department of Budget and…

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