Fitch Affirms AAA Rating for Prince George’s in Advance of $270M Bond Sale

Fitch Ratings this week affirmed Prince George's County's AAA bond rating in advance of the upcoming competitive bond sale. The rating keeps borrowing costs low for capital projects and reflects the County’s sound fiscal policies, prudent long-range planning, and economic stability. Fitch Ratings assigned a AAA rating to the following Prince George's County general obligation (GOs) bonds: $271,665,000 GO consolidated public improvement bonds, series 2021A. The bonds are scheduled for negotiated sale on or about…

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Fitch Affirms St. Mary’s AA+ Bond Rating

Fitch Ratings yesterday assigned an AA+ rating to St. Mary's County's 2021 series of general obligation bonds, deeming its fiscal outlook as stable. The AA+ rating keeps borrowing costs low for capital projects, and reflects the County’s sound fiscal policies, prudent long-range planning, and robust economy. In addition, Fitch has affirmed the County’s AA+ Issuer Default Rating (IDR) and the AA+ rating on approximately $96 million of outstanding GO bonds. The Rating Outlook is Stable.…

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Fitch Affirms Washington County’s AA+ Bond Rating

Fitch Ratings yesterday assigned an AA+ rating to Washington County’s 2021 series of general obligation bonds, deeming its fiscal outlook as stable. The AA+ rating keeps borrowing costs low for capital projects, and reflects the County’s sound fiscal policies, prudent long-range planning, and robust economy. In addition, Fitch has affirmed the County’s AA+ Issuer Default Rating (IDR) and the AA+ rating on approximately $165 million of outstanding GO bonds. The Rating Outlook is Stable. On…

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2021 End of Session Wrap-Up: School Construction & Capital Budget

An overview of MACo's advocacy on school construction and capital budget legislation in the 2021 General Assembly.  County Governments partner with the State of Maryland to fund school construction projects throughout Maryland. K-12 school renovation and construction projects make up a substantial portion of any county's capital budget, and the needs of Maryland students are consistently a high priority. This year the Maryland General Assembly conducted a legislative session unlike any other due to the…

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American Rescue Plan Offers Broad School Support

$122 billion from the American Rescue Plan will help to open the majority of K-8 schools, and support ongoing safety and equity offerings. Today, less than a week after President Biden signed the American Rescue Plan (ARP), the U.S. Department of Education (Department) announced the amount of ARP Elementary and Secondary School Emergency Relief (ESSER) funding that each State, Puerto Rico, and the District of Columbia will receive to support their efforts to reopen K-12…

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All Three Major Rating Agencies Reaffirm Maryland’s AAA Bond Rating

Moody’s, S&P Global, and Fitch Ratings Also Maintain Stable Outlook While Noting Challenges as State Moves Towards Recovery. Maryland State Treasurer Nancy K. Kopp announced this week that in spite of continued fiscal headwinds caused by the COVID-19 pandemic, the three major bond rating agencies have reaffirmed the State’s AAA bond rating, the longest continuous Triple-AAA bond rating for a state in the country. The announcement comes in advance of the upcoming competitive sale of…

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MACo: School Construction Incentive Act Needs More Input

MACo Legislative Director Kevin Kinnally yesterday testified in support with amendments on SB 551 School Construction Incentive Act of 2021 before the Senate Budget and Taxation Committee. SB 551 creates incentives for cost-efficient school buildings and long term operational efficiency. The bill, however, leaps to specific conclusions regarding the desirability of specific measurements and standards that are not yet a matter of consensus. From the MACo Testimony: The incentives SB 551 envisions are very sensible: expanding…

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MACo Raises Cost Concerns with Classroom Video Installation Bill

MACo Policy Associate Drew Jabin today submitted testimony to the House Ways and Means Committee in opposition to HB 715 Public Schools – Self-Contained Special Education Classrooms – Use of Video Recording Devices. This bill requires county boards of education to install video recording devices in every self-contained special education classroom. From the MACo Testimony: HB 715 would implement a costly, burdensome mandate - without accompanying State support - for school systems and county governments…

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MACo: Water Testing Strikes Right Balance

MACo Policy Associate Drew Jabin today submitted testimony to the House Environment and Transportation Committee in opposition to HB 636 School Buildings – Drinking Water Outlets – Elevated Level of Lead (Safe School Drinking Water Act). This bill would lower the threshold for the detectable lead in drinking water in schools, requiring remediation of fixtures if detected. From the MACo Testimony: Under a new law enacted in 2017, the Maryland Department of the Environment (MDE)…

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MACo Resists Costly Solar Mandate

MACo Policy Associate Drew Jabin today testified before the Senate Education, Health, and Environmental Affairs Committee in opposition to SB 330 State-Funded Construction and Major Renovation Projects - Solar Panels - Requirement. This bill would place a costly mandate on county governments to carry out new state policy to place the maximum number of solar panels on a roof as specified during new construction or major renovation projects. From the MACo Testimony: This bill, as written, represents…

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