Annapolis, MD – On Thursday, March 2, State Senator Steve Waugh [R – District 29] released the following statement from the state capital.
“Imagine a fifth home equity loan for $26 million more spending, and the St. Mary’s County Commissioners asked the Delegation to co-sign. That’s essentially the County Bond Bill, SB736. The [St. Mary’s County] Delegation hoped there could be a small tax cut for everyone in the county.
“By the [St. Mary’s County] Commissioners own plan they don’t need this $26 million bond for 5 years. The Delegation will pass a bond bill at the appropriate time.”
How to put the debt into focus
“St. Mary’s County has been authorized new debt (bond bills, like a home equity loan) four times in recent years: 2003, 2005, 2008, and 2013. The county has been making payments on the 2003 bond for some time, and borrowed most of the 2005 bond a few years ago. Last year the county borrowed the remainder of the 2005 bond, and most of the 2008 bond. I am working to make sure Maryland continues be “open for business,” generating jobs designed to sustain families.”
Waugh’s district includes south Calvert County and all of St. Mary’s County.