Bill Would Boost Bonding Authority For Higher Education

ANNAPOLIS, Md. (AP) — The House of Delegates is scheduled to take up a bill to increase the bonding authority of the University System of Maryland.

The House is expected to consider amendments to measure on Thursday.

The measure would increase the bonding authority of the system by $200 million from $1.2 billion to $1.4 billion.

The system issues about $120 million in academic and auxiliary bonds each year. If the system is going to continue to do that, it needs the increased bonding authority. The system’s bonding authority was last increased in 2010, when it was increased by $150 million.

Auxiliary bond revenues pay for construction and renovations for buildings like dining halls and dormitories.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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