Maryland Gives Itself and Its Counties the Power to Swap

Newman, Emily
May 2003
Bond Buyer;5/15/2003, Vol. 344 Issue 31636, p3
Trade Publication
Maryland governor Robert L. Ehrlich Jr. has signed a legislation that will grant swap authority to the state and its counties and permit the state to issue negotiated and variable-rate bonds. The legislation SB 319 also authorizes some state bonds to be sold via private negotiation and in variable interest rate form, a freedom that Maryland's counties have possessed for years, according to Dale Neubert, director of finance for Howard County. The legislation would also permit both the state and its counties to enter into interest rate swaps to achieve better savings.


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