Maryland sells $525 million of bonds to support schools, hospitals, other projects

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Maryland completes the sale of $525 million in bonds. State treasurer Nancy Kopp says the bulk of sales were in tax exempt bonds going to Citigroup, remaining bonds were sold to Wells Fargo. Kopp says the investors recognized the value of Maryland’s AAA bond rating in the current volatile stock market conditions. 90% of the funds raised will go to support Maryland schools, colleges, hospitals and other public projects. The remaining 10% will fund environmental and housing programs.