The O’Malley administration is seeking authorization to float $750 million more in state debt over the next five years, a move Comptroller Peter Franchot objects to as potentially triggering a property tax hike.
Read MoreWhile discord over the national debt and budget cutting sizzled Wednesday in Washington, D.C., the Board of Public Works approved the sale of $512 million in state bonds at some of the lowest rates ever – and had harsh words for uncompromising Republicans in Congress.
Read MoreThe state might have to look to its strapped general fund next year to cover the repayment of bonds it has already issued, which could add $100 million in expenses that the state will have to cover.
Read MoreIs the $8.8 billion in debt Maryland owes to bond holders high, moderate or low? Take your pick. One of the three national bond rating agencies agrees with you, yet they all give Maryland their highest, AAA rating.
That split by the bond raters has little effect on the average taxpayer, since the AAA ratings guarantee some of the lowest interest rates available. However it does puzzle the raters a little, and the “high” designation by Moody’s Investors Service causes some concern to state officials.
Read MoreThe state sold $200 million in bonds at the lowest interest rates in 20 years Wednesday, but it pulled back on the refinancing of another $600 million in older bonds since that was not going to reap the huge savings expected.
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