Summer School Session

Newman, Emily
June 2003
Bond Buyer;6/30/2003, Vol. 345 Issue 31667, p1
Trade Publication
It may be summer break for most University System of Maryland (USM) students, but the system will be busy during July and August 2003, cranking out both new-money and refunding bonds even as budget cuts loom. The university and the Maryland Economic Development Corp. are planning a string of sales for the system during summer 2003, including a $253 million revenue bond issue to be sold competitively by the USM on Wednesday, July 2, 2003. USM hopes to achieve net-present-value savings of about $10 million, according to Public Financial Management consultant Jeremy Bass. The USM is composed of 11 degree-granting institutions and two research institutions. It is Maryland's only public university system, according to Fitch Ratings. Fitch rates the debt AA.


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