The proceeds will be used for capital projects.
Frederick County went to the bond market on Thursday, and sold $31.45-million dollars in General Obligation Bonds.
Nine bids were submitted, but the one from PNC Capital Markets contained an interest rate of 2.613%.
In July, 2011, bonds were issued at a true cost of 3.357%. County officials say if that was applied to this year's bond sale, the interest cost would have gone up by $1.6-million.
The proceeds will provide funding for the capital projects for the Board of Education and Frederick Community College, along with roads, bridges, and water and sewer projects.
Earlier this week, all three bond rating services issued their ratings for Frederick County. Fitch Ratings gave the county the highest level, AAA; Moodys Investor Services gave Frederick County an Aa1; and Standard and Poor's rating for the county was AA+.
All three rating services said Frederick County a "stable" outlook.