Local

Boost In Md. College Borrowing Authority Advances

View Comments
money, money generic, cash

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

ANNAPOLIS, Md. (AP) — A measure to increase the amount of money the University System of Maryland can borrow by $200 million has advanced in the House of Delegates.

The House gave preliminary approval to the bill on Thursday. The measure would increase the bonding authority of the system from $1.2 billion to $1.4 billion.

The House rejected an amendment by Delegate Andrew Serafini, R-Washington, that would have allowed the system’s bonding authority to increase by $50 million instead. Serafini says the system should use money in the bank instead of borrowing for infrastructure needs.

But Delegate Adrienne Jones, D-Baltimore County, says the amendment would have hindered projects already in the works at Maryland colleges and universities.

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

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 3,296 other followers