Maryland

WASHINGTON — In an effort to take advantage of the 35% subsidy rate for Build America Bonds while it lasts, Maryland plans to competitively sell its largest BAB issue to date — $400 million — as well as $200 million of advance refunding bonds on Wednesday.

WASHINGTON — Maryland Gov. Martin O’Malley yesterday released a proposal for the state’s fiscal 2011 budget that would reduce reserve fund contributions and increase public debt by 7.1% over fiscal 2010.

WASHINGTON — Baltimore Mayor Sheila Dixon will resign and be sentenced Feb. 4 as part of a plea agreement negotiated with prosecutors after being convicted on one criminal count last year for using gift cards donated to the city.

Construction of Linden Ponds, an ­Erickson Retirement Communities development in the Boston area, will resume late next year, and investors in the project’s $156 million of tax-exempt bonds will be paid, Erickson executive staff told bondholders and market participants last week in an investor call.

WASHINGTON — The Montgomery County Council in Maryland Tuesday unanimously voted against proposed toll rate hikes for the InterCounty Connector, the $2.4 billion toll road currently under construction, and also cut $30 million from the county’s fiscal 2010 budget.

WASHINGTON — Montgomery County, Md., expects today to competitively sell $397 million of refunding and new-money bonds in its largest deal ever. The sale could include the triple-A county’s first issuance of Build America Bonds.

WASHINGTON — Triple-A rated ­Baltimore County expects to competitively sell $262 million of general obligation bonds tomorrow, including the largest amount of recovery zone economic development bonds sold by any issuer to date.

Erickson Retirement Communities, developer of 19 continuing-care retirement communities throughout the U.S., filed for Chapter 11 bankruptcy Monday in U.S. Bankruptcy Court in Dallas.

WASHINGTON — Maryland plans to competitively sell $803 million of general obligation bonds on Wednesday, the state’s biggest transaction ever. Investors are expected to snap up the bonds even as large deals in other states were delayed last week amid rising municipal yields.