Harford County, Maryland FY 24 Proposed Operating Budget

DEPARTMENT: DEBT SERVICE DIVISION: Debt Service - 661110 Principal, 662110 Interest - General General Funds Harford County went to the bond market in March for $50,000,000 in Consolidated Public Improvement Bonds. The County received the highest rating possible from all three investor services, making Harford County bond ratings: Fitch Ratings AAA, Standard and Poor's AAA, and Moody's Investors Service Aaa, as published in the County's Official Statement on March 14, 2023. It is Harford County's practice to conduct an annual bond sale contingent on capital project needs and the economic conditions of the bond market. Prior to selling bonds, the County will issue Bond Anticipation Notes (short term financing) to start the construction of capital projects based on cash flow needs. The following capital projects are included in the FY 24 Proposed Capital Budget:

Board of Education

General Projects

Aberdeen MS HVAC Renovation Blueprint Facility Program Educational Facility Program Harford Academy Major Project Harford Tech Limited Renovation Health School Facility Fund

7,870,000 Courthouse Building Repairs

300,000

200,000 Harford Metro Area Network (HMAN) 2,400,000 Major Reno/Construction County Fac.

4,000,000 4,000,000 10,000,000 18,300,000

16,000,000 Site Acquisition 11,595,000 Total General

1,200,000

2,000,000 Public Safety

Major HVAC

Roof Replacement HdG ES Total Board of Education

1,115,000 Emergency Ops Ctr Complex II

5,000,000 1,600,000 100,000 6,700,000 2,500,000 2,000,000 4,500,000

42,380,000 4 2

HCDC Facility Repairs/Upgrades Mobile/Portable Radio System

Libraries

Parks & Recreation

Bel Air LIbrary Renovations

575,000 Athletic Field Improvements 575,000 Trails and Linear Parks

Total Parks & Recreation

Harford Community College Chesapeake Welcome Center

10,800,000

TOTAL GENERAL FUND PROJECTS

83,255,000

608