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County earns low interest rate

March 25, 1998

County earns low interest rate

Washington County on Tuesday received the lowest interest rate it has had in more than a decade on the sale of $7 million in 20-year general obligation bonds.

The rate dropped to 4.80 percent from the 5.37 percent received last year and is the lowest rate received since 1986, County Commissioners President Gregory I. Snook said.

The county maintained its A1/A+ bond ratings, County Administrator Rodney M. Shoop said.

The firm Ferris, Baker, Watts submitted the best bid for the bonds.

The bonds will fund:




* $2.18 million in Board of Education projects.

* $3.28 million in road, drainage and bridge projects.

* $441,545 for solid waste.

* $494,500 for Hagerstown Junior College.

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* $406,154 for other public facilities.

* $200,000 in bond issuance costs.

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