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Home > News Releases > Archived News Stories - 2005 > Compass Pointe Golf Course     
 
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County Sells Bonds to Purchase Compass Pointe Golf Course

Annapolis (June 9, 2005)--Anne Arundel County Executive Janet S. Owens announced today that the County sold $ 24,530,000 in General Obligation Bonds to purchase the Compass Pointe Golf Course from the Maryland Department of Economic Development (MEDCO). Wachovia Bank, National Association provided the winning bid with a true interest cost of 4.102990% and a premium of $776,557. Other bidders were ABN AMRO Financial Services, Inc., Merrill Lynch & Co. UBS Financial Services, Inc. and Davenport & Co., LLC.

Ratings were affirmed on the County's debt as follows:

 
Standard & Poors Rating GroupAA+
Moody's Investors ServiceAa1
Fitch Ratings

AA+

The County previously sold bonds on February 24, 2005 and received a true interest cost of 3.884560%.

 

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