Speaker numbers apply only to this recording. Names come from transcript evidence. “Possibly” marks uncertain attribution.
The Charles County Board of Commissioners met on November 18, 2025, in afternoon and evening sessions. The agenda included approval of a bond award, reappointments to boards and commissions, annual updates on business loan funds, a preliminary review of school capital budget requests, and an update on legal fees related to Commissioner Coates' lawsuit. The evening session featured public comments on water supply, term limits, data centers, and other issues, followed by commissioner responses.
Good afternoon, everyone. We're going to begin this afternoon session with a roll call. Commissioner Bowling. Present. Commissioner Coates is absent. Commissioner Stewart. Here. Commissioner Patterson. Present. And Commissioner Collins. Here. Thank you. Commissioners. The first item on your agenda this afternoon is under additional approval items, and we have the approval of the bond award for 2025. Good afternoon, Commissioners. Uh Jake Dyer, Director of Fiscal Ministry of Services. Anna Horve with Maguire Woods. And Jennifer Derricson with Davenport and Company. So today we did our bond sale, another successful bond. So as a repeat uh recap, uh we did a 75 million dollar issue. Uh we did go to New York in October to do our bond rating presentations. Uh it's a reminder we got triple A for all three body reagencies again. So that's excellent news. Uh we're still it the number of triple A, triple A counties is declining through the area, so we're still able to hold on, which is great. And today we did our successful bond sale, and I'll have Jen explain the numbers for you and go from there. Great. Thank you. Um good afternoon. Uh so the county today uh received 11 bids uh for your geo sale. Uh Piper Sandler was the winning bidder um at a rate of 3.498. So um, which is under our so when we estimated the tick um the uh the interest rate in August, it was a 395, and even in at the end of September is a 370. So we came in well under that. Um in addition, we have sold um a number of other Maryland issuers um over the last few weeks, and the county came in under all of those issuers. Um a very good result um overall. Um so uh you know we've seen a tick down in rates as you can see. Um, so you sold it a very good time. So congratulations. And I just wanted to mention that the rate that we were assuming in September was higher than what we got, and when I re-ran the numbers once we got the better rate, our our interest cost in just in fiscal year 27 is going to go down by 100,000 dollars because of a better interest rate that we got than we were initially anticipating. That's across all funds, so that's the general following your water and sewer funds over. But in total, because of a better interest rate, we are saving Charles County fee payers taxpayers approximately 100,000. Thank you. Congratulations to you and your team. This is awesome. Thank you. So I think the next step is is we essentially need the commissioners to approve the resolution, and I'll turn over to Anna to explain the documents that are out there for you approved. Right. So the resolution basically approves the award of the bond sale to the lowest bidder, which was Piper Sandler, as Mr. Erickson had mentioned. Um so the resolution lists out all of the bids so as you can see what all of the various bids were and has the interest or I'm sorry, the interest rates and maturity schedule for the winning bidder, which was again Piper Sandler. So at this point, then uh we have received the good faith deposit.