COMMISSION ON STATE DEBT

Chair: Dereck E. Davis, State Treasurer

[photo, Goldstein Treasury Building, 80 Calvert St., Annapolis, Maryland] Appointed by Governor: Paul B. Meritt

Ex officio: Peter V. R. Franchot, Comptroller of Maryland; David R. Brinkley, Secretary of Budget & Management; James F. Ports, Jr., Secretary of Transportation; Michael L. Higgs, Jr., Director of Assessments & Taxation.

Secretary: Andrew M. Schaufele, Director, Bureau of Revenue Estimates

Staff: Christian A. Lund

c/o Debt Management Division, Office of State Treasurer
Goldstein Treasury Building, 80 Calvert St., Annapolis, MD 21401 - 1991
(410) 260-7920; 1-800-974-0468 (toll free)
e-mail: clund@treasurer.state.md.us

Goldstein Treasury Building, 80 Calvert St., Annapolis, Maryland, September 2002. Photo by Diane F. Evartt.

The Commission on State Debt began when the Governor created the Committee to Study the State Debt in 1969 (Executive Order 01.01.1969.08). In 1980, the Governor reformed the Committee as the Commission on State Debt (Executive Order 01.01.1980.06).

As an advisory board to the Board of Public Works, the Commission convenes annually to recommend a State tax rate on real and personal property. This tax rate must provide sufficient funds to meet debt service requirements (interest & principal) on outstanding general obligation bonds during the next ensuing fiscal year. These bonds are used to finance capital improvements, such as schools and roads, throughout Maryland.

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