The Baltimore Sun from Baltimore, Maryland • 39

THE SM, Friday, April ia C5 Inmate dies; drugs blamed City sells $35 million worth of bonds at 10 proved by the voters-will pay for a variety of civic projects: commercial man said investigators believe that either heroin or Talwin, a form of synthetic morphine, caused the man's death. How he obtained drugs in the prison has not been learned, police said. Travis was rushed to the prison infirmary, after being found by a fellow inmate, and then was taken to the hospital in Baltimore, police said. An autopsy is pending to determine the specific cause of death. Prison authorities declined comment, other than to say the death was being A 32-year-old inmate at the Maryland House of Correction in Jessup died last night from an apparent drug overdose, State Police reported.

Police said Charles R. Travis, who was sentenced to IS years in prison for armed robbery and drug possession in 1974, was found semiconscious about 9:45 p.m. on the tier outside his cell and died shortly after being taken to University Hospital. According to police, the inmate had a history of drug use and required emergency medical attention as recently as March 27 for i heroin overdose. A police spokes and by the maturity dates.

The winning bid was submitted by a 72-member syndicate headed by First National Bank of Chicago. Once the bids had been tabulated, the city's Board of Finance voted unanimously, and without debate, to sell the bonds to the low bidder. Two other bids were submitted, with an effective annual rate of 10.12 percent offered by a syndicate headed by Chase Manhattan Bank (with First National Bank of Maryland as agent), and 10.16 percent offered by a group headed by Citibank of New York. Later in the day members of the syndicate that bid successfully for the bonds reoffered the securities to the public, scaled to yield tax-free income ranging from 8.25 percent for bonds due next, year to 10.25 percent for the final ma-' turities in 1991. Harold R.

Tall, deputy director of finance, said the city was also able to obtain a better rate by issuing bonds this year for 10 years or less. In the past, the city has usually offered 20-year bonds, he said, but with interest rates changing rapidly, investors are leery of long-term issues. As it is, the city will pay $19,183,404 over the next 10 years to borrow $35 million. In working on the city budget for next year, George A. Piendak, the budget director, had to make an estimate last month of the selling price of the bonds, and he hit it on the nose.

The difference between last year and this year in the rate the city has to pay to borrow is a function of more than rising interest rates generally, Mr. Piendak said yesterday. Rates are also affected by the amount and type of bonds offered By 1W. William Salganik The city yesterday sold $35 million worth of bonds at 10 percent. The rate was expected, given current high interest rates, but marks a sharp Increase for the city in the cost of borrowing money.

A year ago, the city sold $85 million in bonds at 8.41 percent-the first time in recent history that the city had broken its self-imposed annual ceiling of $35 million. Had this year's city bonds sold at the same rate as last year, the city would have saved an average of about $300,000 a year over the next 1 0 years. But bonds these days are not selling at such rates. The Dow Jones Municipal Bond Index, a measure of what bonds across the country are selling for, stands at 11.69 percent. The bonds-the sale of which is ap and residential rehabilitation loans, fire facilities, school repairs, sewer construction, purchase of landfill space, extension of water lines and off-street parking.

Because of the high interest rates, some cities have delayed their bond sales to wait for the rates to decline. City officials have said, however, that they do not like to wait: Rates may continue to rise, they say, and Baltimore has a reputation as a city that always sells its bonds in April. Baltimore's credit ratings from the two major New York bond-rating services A-l from Moody's and A from Standard Poor's-are better than those for most large cities, which allows the city to borrow money at a lower rate than some other municipalities. Woman dies in gun accident with a handgun, according to investigators. Mrs.

Glenn had also left the house and was nearby, police said. One live round was still in the chamber when Mr. Glenn started to clean the gun and it discharged, investigators reported. The bullet penetrated Mrs. Glenn's left shoulder, near the heart, they said.

Last night police said that the case was being listed as an accidental death and that no charges had been placed. A 60-year-old Parkville woman died from a gunshot wound yesterday evening after a gun her husband was cleaning accidentally discharged, Baltimore county police reported. The victim, Catherine Glenn, was pronounced dead at her home in the 2800 block Cub Hill road about 7 p.m., authorities said. Her husband, Sterling Glenn, 67, had been shooting at rabbits in their garden mood mm Before making your travel plans look first to The Travel Pages in The Sunday Sun VIDEO RECORDERS ATARI GAME CARTRIDGES OVER 1,000 VIDEO MOVIES IN STOCK! mmmmmmmmmmmmmmmmmmmmmmmmmmmmm ft thru XXX rated, BetaorVHS. Sale or Rental.

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