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Baltimore County Seeks to Borrow $255 Million to Fund Pension System
Baltimore Sun 
Sept. 11, 2012
"Baltimore County Executive Kevin Kamenetz wants to borrow $255 million and repay it over the next 30 years to help fund the county's retirement system, a move that would carry risk but that the administration says could benefit taxpayers in the long run. [The county's] Administrative Officer ... told the County Council ... that the administration would introduce legislation next week to allow the county to issue pension obligation bonds. The bond issue would not have to be approved by voters. In July, the county lowered its projections on the assumed investment earnings for its retirement system, meaning taxpayers must contribute an additional $15 million annually to the retirement system starting next year."
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