Baird Completes $4.3M Bond Offering for Racine

First County to Issue Recovery Zone Economic Development Bonds in Wisconsin

Baird, an employee-owned, international wealth management, capital markets, private equity and asset management firm, today announced that it has completed a $4.3 million bond issue for Racine County. The taxable bonds issued by the County are Recovery Zone Economic Development Bonds (RZEDBs) provided under the American Recovery and Reinvestment Act of 2009 and carry an effective interest rate of 2.20% for the 10 year financing. Racine is the first County to issue RZEDBs in Wisconsin and only the seventh county to do so nationally since the stimulus plan was enacted in February. Baird serves as Financial Advisor to the County.

Funds raised by the offering will be used to pay for several capital projects included in the County's 2009 budget, including nursing home improvements and equipment, park improvements, construction of highway improvements, acquisition of highway equipment, public works equipment and equipment for the Sheriff's department and improvements and equipment for the Courthouse and other County facilities.

“Baird is pleased to have helped Racine County complete this bond issue,” said Bradley Viegut, Director in Baird’s Public Finance group and lead advisor on the financing. “By using these bonds provided under the stimulus plan, the County can pursue their capital improvement projects at a lower cost to taxpayers.”

Under the American Recovery and Reinvestment Act of 2009, certain municipal issuers are eligible to issue RZEDBs, through 2010, for improvements within a “recovery zone.” The recovery zone designation is determined by the governing body and is based on findings of significant poverty, unemployment, rate of home foreclosures or general distress. When issuing RZEDBs the issuer receives a Federal subsidy of 45% of the interest cost. This subsidy provides lower cost financing than traditional borrowing.

About Baird’s Public Finance Group
Baird is a major underwriter and financial advisor to municipalities, schools, government agencies and corporations. During the past five years, Baird has served as senior manager, co-manager or financial advisor for debt issues totaling $79 billion. Ipreo MuniAnalytics ranks Baird as the number one national managing underwriter for small issues and the number one national managing underwriter for competitive issues of $100 million or less for the first half of 2009. Baird was honored as advisor of the “Midwest Regional Deal of the Year” by The Bond Buyer in 2007.

About Baird
Baird is an employee-owned, international wealth management, capital markets, private equity and asset management firm with offices in the United States, Europe and Asia. Established in 1919, Baird has more than 2,400 associates serving the needs of individual, corporate, institutional and municipal clients. Baird oversees and manages client assets of more than $66 billion. Committed to being a great place to work, Baird ranked number 14 on the FORTUNE’s “100 Best Companies to Work For” in 2009 -- its sixth consecutive year on the list. Baird’s principal operating subsidiaries are Robert W. Baird & Co. in the United States and Robert W. Baird Group Ltd. in Europe. Baird also has an operating subsidiary in Asia supporting Baird’s private equity operations. For more information, please visit Baird’s Web site at www.rwbaird.com.