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Montco Floats Bond Issue
Montgomery County is taking on more debt. It issued $55,000,000 worth of bonds Thursday to fund major infrastructure projects including repairs and renovations at the Norristown Courthouse as well as the parking garage and One Montgomery Plaza. The interest rate on the new debt is just under 2.4%. The total county debt currently stands at almost $450,000,000. Debt service costs the county about $39,000,000 annually.