Maryland may be forced to dip further into its reserves to pay for costs related to the collapse of Baltimore’s Francis Scott Key Bridge.
Governor Wes Moore is authorized to withdraw as much as $474 million from Maryland’s rainy day fund to address the economic impact from the collapse, including supporting port workers, as well as finance entitlement programs. So far, he has pulled $72 million, according to preliminary bond documents published in accordance with a $1.2 billion issuance sold this week.
“The reserve fund is there for situations like this,” said Ted Hampton, a senior analyst at Moody’s ...
