County Council Approves “JumpStart Anne Arundel” Capital 30 Year Bond Program
Annapolis, MD (September 21, 2015) – Tonight the Anne Arundel County Council approved County Executive Steve Schuh’s “JumpStart Anne Arundel” 30 year bond program.
“Tonight we took a huge step in making our county the best place to live, work and start a business in Maryland,” said Schuh. “This new bonding authority will accelerate the investments we make in ourselves by allowing our county to build more schools, roads, public safety facilities, parks, and libraries.”
During his 2015 Budget Address, the County Executive unveiled his “JumpStart Anne Arundel” Capital Funding Program. The new quality of life improvement program is designed to accelerate school construction, road repairs and water access, as well as expand the County’s bike trails, water access, and regional park network by utilizing 30 year bonds.
The 30 year bond financing option is the most utilized financing options across municipalities. This reform will allow Anne Arundel County to increase capital investment by $150 million over the next six years without increasing our annual debt service. All three rating agencies reaffirmed their ratings of the county after being briefed on this new 30 year bond strategy.