Speaker numbers apply only to this recording. Names come from transcript evidence. “Possibly” marks uncertain attribution.
The Charles County Commissioners held their afternoon session on October 27, 2026, with Commissioner Patterson absent for the initial roll call but later participating. They approved a $93.2 million general obligation bond award and a sewer project change order, heard the biannual health department report, debated introduction of a collective bargaining bill, and received a briefing on business milestone recognition.
Good afternoon, everyone. Um Commissioners, we're gonna begin this afternoon session with a roll call. Commissioner Bowling. Present. Commissioner Coates. Commissioner Stewart here. Commissioner Patterson is absent. Commissioner Collins. Here. Thank you. Commissioners, the next item on your agenda is additional approval items. And the first item for approval is the bond award for 2026. Good afternoon, Commissioners Jake Dyer, Director of Fiscal Administrative Services. Hi, Jennifer Dirackson, uh Senior Vice President with Davenport and Company, financial advisor to the county uh county. Hi, I'm Anna Horve. I'm a partner of McGuire Woods, and we serve as bond counsel to the county. So Commissioners, uh today we did our bond sale earlier this morning. Uh we have very favorable results, and I'll turn it over to Erickson to chart to explain what the results were and then go from there. Thank you, Mr. Dyer. Uh yes, today we had a very successful bond sale. Um the county sold about 93.2 million um in geo bonds um and got a rate of four point oh two percent, um, which was under our estimate of 4.2%. Um we cover a number of other counties uh in the state um and we've had three other bond sales over the last month, and your rate was actually lowest among those uh other three. So congratulations. Um you did have um 15 bids, so that was more than last year's, yes. Um and the spread between the lowest um and the winner was JP Morgan at the 4.02. Um, but there was only a five basis points difference between JP Morgan and the highest. So very close uh market rate. Um, and that was supported uh by the fact that you did get um affirmations of all three triple A ratings. So um congratulations. And I just wanted to chime in that in September when we did an analysis to figure out what this would cost us, um, compared to what was done in September or beginning of August to now, it our interest costs went down by about two and a half dollars in what we were planning for when we've originally started this process. So that that's great news because we had saved the taxpayer monies by uh a tune of two and a half million for what we were planning to do. Can I ask a question? Um so with the triple A bond rating at 4.02. Can you give an example of a lesser bond rating with that interest rate would be? Yep. Um so last week um we sold another county that is rated one notch uh below you. Um and they got a 4.49. 4.49? Yes, compared to the 4.02. And how much of a difference would that be in interest more interest will we pay a year? Do you know Jake based on the nine? So what we were originally back in September when I when I quoted you we saved two and a half million. I think it was we were at 4.6 percent when we were originally doing this back in September. So it saved us uh by all I say it was four and a half to four percent. There's there's definitely some saves. I don't have I can't have the exact numbers in front of me, but definitely