Calvert County sells $75.9M in bonds for infrastructure

Calvert County has sold $75.9 million in general obligation bonds to fund various public infrastructure and facility projects. The winning bid was submitted by Hilltop Securities with a true interest cost of 4.66%.

The bond proceeds are designated for several projects outlined in the county’s fiscal 2024 through 2026 capital improvement plans. Key initiatives include school upgrades at Northern and Southern Middle Schools, road repairs such as the Prince Frederick Loop Road and Little Cove Point Road, water and sewer system rehabilitations, and the replacement of the St. Leonard Volunteer Fire Department and Rescue Squad facility. Other projects include renovations to the Calvert Pines Senior Center and the Hall Aquatic Center.

The sale follows the recent reaffirmation of Calvert County’s AAA credit rating by Fitch Ratings, Moody’s Investors Service, and S&P Global Ratings. This top-tier rating, maintained for eight consecutive years, allows the county to secure lower interest rates, thereby reducing the long-term cost of capital projects for taxpayers.