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For Immediate Release • May 24, 2010
Staff Contact: Jim Golden, Finance and Support Services Manager, 303-651-8629
View the most recent Press Releases.
MAY 24, 2010 - The City of Longmont's $13.39 million Wastewater Revenue Bonds were sold Monday through a competitive bid process. Robert W. Baird & Co. purchased the Bonds at an effective rate to the City of 3.03%, net of federal subsidies. The Bonds include both a taxable and a tax-exempt series, and will be repaid over 20 years.
Proceeds of the Bonds will be used to finance $12 million of improvements to the City's wastewater treatment plant, and to fund a $1.1 million debt reserve. The improvements to the plant include the repair and replacement of aging structures and equipment that are necessary to the plant’s operation, biosolids treatment facilities improvements, construction of advanced treatment facilities to continue to protect the water quality in St. Vrain Creek and upgrades to the monitoring and control systems at the plant.
The Bonds are being sold by Robert W. Baird & Co. and other brokers to investors nationwide. Contact Dan Palm at 1-888-792-4479 about availability.
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