Tag: bond debt

Federal debt ceiling deadlock could postpone Md. bond issue; state retains AAA rating

If the dispute between the White House and Congress over lifting the U.S. debt ceiling is not resolved soon, the state may put off its scheduled bond sale for upwards of $500 million set for July 27, the state treasurer’s office told a legislative committee Tuesday. “If they don’t have the debt ceiling issue resolved, the markets will be chaotic, and we will probably postpone the sale,” said Patti Konrad, manager of state debt.

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Assembly analysts say O’Malley budget may underfund some areas

The governor’s new budget may be $425 million to $500 million short on cash to fully fund some programs and pension costs, legislative analysts told lawmakers Monday.

In its first swipe at Gov. Martin O’Malley’s $34 billion spending plan, the Legislative Services staff fiscal briefing identified key issues the legislature has to deal with in handling the budget. The analysts noted over $200 million in bond debt that would be sold to replace money taken out of the special funds for Program Open Space, Chesapeake Bay Restoration and the Transportation Trust Fund.

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