Case Studies

Baird served as sole managing underwriter for two series of refunding bonds totaling $34,415,000.

Expanding access to classical liberal arts education in Southeast Texas.

The Renaissance Charter School 2 completed a $96,690,000 Revenue Bond financing (the “Series 2025 Bonds”), with Baird’s National Charter School Finance team serving as the sole underwriter.

Expanding access to STEM Education in rural South Carolina.

Educational opportunities in a high-growth South Carolina community.

Baird served as Senior Managing Underwriter for the Cibolo Creek Municipal Authority’s (CCMA or the Authority) $8,390,000 Contract Revenue Bonds, Series 2025 (South Wastewater Treatment Plant Expansion Project).

Financing a Permanent Campus Utilizing Short-Term Structuring Tools to Support Enrollment Growth

Baird served as Sole Managing Underwriter for Community College District No. 531, Counties of Union, Alexander, Massac, Pulaski, Johnson, and Jackson and State of Illinois (Shawnee) (the District), on two series of bonds: the $2,885,000 Taxable General Obligation Community College Bonds, Series 2025, and the $2,420,000 General Obligation Community College Bonds, Series 2025D.

Baird’s California K-12 Public Finance group served as sole managing underwriter for the District’s $33,075,000 2025 General Obligation Refunding Bonds, rated Aa3, delivering a highly successful execution amid a week of light California school district issuance.

Baird served as sole managing underwriter for Huber Heights City School District’s (the District) $32,295,000 Refunding Bonds, Series 2025 (General Obligation – Unlimited Tax) (the Bonds).

Baird served as Sole Managing Underwriter for The City of Loudon, Tennessee’s (the City) $21,205,000 Water and Sewer System Revenue Bonds, Series 2025 (the Bonds), which carried underlying ratings of A+ and were rated “AA” with bond insurance.

Baird served as sole managing underwriter for the City of Athens’ (the City) $4,500,000 Swimming Pool Facility Refunding Bonds, Series 2025 (the Bonds).

Baird served as Senior Managing Underwriter for Harris County, Texas’ $227,440,000 Toll Road First Lien Revenue Refunding Bonds, Series 2025A, supporting one of the nation’s largest and most heavily used regional toll road systems.

Baird’s California K-12 Public Finance group partnered with the District as sole managing underwriter to structure and market two new-money general obligation bond series: the $2,250,000 Election of 2014, Series E (Ed-Tech Bonds) and the $8,760,000 Election of 2020 Series D Bonds.

Baird served as sole managing underwriter for the District’s $17,185,000 General Obligation Refunding School Bonds (Alternate Revenue Source), Series 2025 (the “Bonds”).

Baird’s California K-12 Public Finance group served as senior managing underwriter for two general obligation bond transactions, each rated Aa1/AA+.

Baird partnered with Petaluma City Schools to design a multi-series financing plan that combined traditional refunding structures with forward-delivery mechanics.

Baird served as sole managing underwriter for the Otsego Local School District’s (the District) $6,350,000 School Facilities Refunding Bonds, Series 2025 (the Bonds).

Collaborating to build a regional solution for students of all abilities.

On October 22, 2025, Baird served as sole managing underwriter for the Pike-Delta-York Local School District’s (the “District”) $3,335,000 Various Purpose Refunding Bonds, Series 2025, structured with maturities from 2028 through 2033.

Baird’s Ohio team served as sole managing underwriter for the County of Defiance County’s (the “County”) $8,500,000 Various Purpose Bonds, Series 2025 (Limited Tax General Obligation) (the “Bonds”).

City of Pontiac invests in community, achieves investment-grade rating.

On September 24, 2025, Baird served as sole managing underwriter to the School District No. 52 Tazewell County (Washington), Illinois on its $23,745,000 General Obligation Bonds, Series 2025 (the “Bonds”).

Baird is proud to have a longstanding relationship with the City, having served as sole managing underwriter on multiple financings supporting the system improvement initiatives.

On September 23, 2025, Baird served as sole managing underwriter to the Village of Hampshire, Illinois on its $12,955,000 General Obligation Bonds, Series 2025 (Alternate Revenue Source) (the “Bonds”).

$24 million financing advances CCA’s mission of classical education and character development.

Baird’s Ohio School team served as sole managing underwriter for the Anthony Wayne Local School District’s $6,830,000 Refunding Bonds, Series 2025A (General Obligation – Unlimited Tax) and $2,320,000 Refunding Bonds, Series 2025B (General Obligation – Unlimited Tax).

Baird served as municipal advisor on the City’s issuance of $19,475,000 General Obligation Bonds, Series 2025 to finance various capital improvements within the City.

Baird served as senior managing underwriter for the $64,280,000 Contract Revenue Bonds, Series 2025 (the “Bonds”).

Baird served as the sole underwriter on the University’s $15,300,000 Adjustable Rate Demand Economic Development Revenue Bonds, Aurora University, Series 2025 which were rated “A2”/”VMIG 1”.

On August 14, Baird served as senior managing underwriter for the District’s $120,400,000 Unlimited Tax School Building Bonds, Series 2025.

Baird’s Ohio School team served as sole managing underwriter for the Belpre City School District’s (the “District) $15,000,000 School Facilities Bonds, Series 2025A (General Obligation – Unlimited Tax) (“Series 2025A”) and $30,705,000 School Facilities Bonds, Series 2025B (General Obligation – Unlimited Tax) (“Series 2025B”) (collectively, the “Bonds”).

Baird served as sole managing underwriter to the City of Winston-Salem, North Carolina (the “City”) on its $37,820,000 Limited Obligation Bonds Series 2025A (“Series 2025A”) and $3,030,000 Taxable Limited Obligation Bonds Series 2025B (“Series 2025B”), collectively referred to as the “Bonds.”

Baird’s California K-12 Public Finance group served as sole managing underwriter on $7,998,559 Election of 2024 General Obligation Bonds, Series A (Bank Qualified) (the “Bonds”) for Hermosa Beach City School District (the “District”) comprised of both current interest bonds (“CIBS”) and capital appreciation bonds (“CABS”).

Baird served as senior managing underwriter on the negotiated sale of Evanston-Skokie Community Consolidated School District #65’s $21,100,000 General Obligation Limited Tax School Bonds, Series 2025A which carried a “Aa3” Moody’s rating and “AA” rated bond insurance through Assured Guaranty.

Baird served as senior managing underwriter for the District’s $63,930,000 Fixed and Variable Rate Unlimited Tax School Building Bonds, Series 2025 (the “Bonds”).

Baird served as senior managing underwriter for the City’s $18,955,000 Certificates of Obligation, Series 2025A (“Series 2025A”); $33,400,000 Permanent Improvement and Refunding Bonds, Series 2025 (“Series 2025”); and $115,480,000 Certificates of Obligation, Series 2025B (“Series 2025B”).

Wake Preparatory Academy successfully completed a $108,975,000 bond financing in partnership with Baird’s National Charter School Finance team, which served as the sole manager.

Baird served as sole underwriter on the negotiated sale of Oregon Fire Protection District’s $3,645,000 General Obligation Bonds (Alternate Revenue Source), Series 2025 rated “A+” by S&P, and carried “AA” rated bond insurance through Build America Mutual.

Baird served as sole managing underwriter to the City of Hendersonville, North Carolina (the “City”) on its $10,025,000 Water and Sewer System Revenue Bonds, Series 2025 (the “Bonds”).

Proceeds from the sale of the City’s $26,560,000 General Obligation Refunding Bonds, Series 2025B were used to (i) currently refund a portion of the City’s outstanding General Obligation Bonds, Series 2016 (Green Bonds) and Series 2018, and (ii) pay costs related to issuing the new bonds.

Baird served as senior managing underwriter for ROISD’s $171,060,000 Unlimited Tax School Building Bonds, Series 2025 (the “Bonds”).

ALA completed a $24,395,000 bond financing in July 2025. Baird’s National Charter School Finance team served as sole managing underwriter for the transaction.

Baird served as placement agent on the City’s $26,895,000 General Obligation Refunding Bonds, Series 2025 to currently refund the City’s outstanding General Obligation Bonds, Series 2014 and 2015.

On June 25, 2025, Baird served as sole underwriter on the negotiated sale of the Village of Oswego’s $19,735,000 General Obligation Bonds, Series 2025A and $3,600,000 Taxable General Obligation Bonds, Series 2025B which carried a “Aa2” Moody’s rating.

Baird’s California K-12 Public Finance group served as sole managing underwriter on three separate series for the Twin Rivers Unified School District in the aggregate amount of $98,970,000.

To strategically align bond proceeds with capital needs and minimize the tax impact on residents, the School District partnered with Baird, serving as municipal advisor, in executing the financing in three structured phases.

Legacy expands its footprint with first South Carolina campus.

In June 2025, IDEA partnered with Baird’s National Charter School Finance team to complete a $286,940,000 bond offering.

In June 2025, Great Hearts partnered with Baird’s National Charter School Finance team to complete a $16,850,000 bond financing.

On June 9, 2025, Baird served as sole underwriter on the negotiated sale of the City of Rockford’s $12,920,000 General Obligation Bonds (Sales Tax Alternate Revenue Source), Series 2025 which carried an “A3” Moody’s rating and carried “AA” rated bond insurance through Build America Mutual.

Baird’s California K-12 Public Finance group served as senior managing underwriter on the $200,000,000 General Obligation Bonds of School Facilities Improvement District No. 1 of Santa Monica-Malibu Unified School District, Election of 2024, Series A on June 10, 2025.

On June 5, 2025, Baird served as sole managing underwriter to the City of West Columbia, South Carolina on its $33,410,000 Water and Sewer System Improvement Revenue Bonds, Series 2025.

Baird was hired through a competitive RFP process to serve as municipal advisor on the City’s issuance of $8,220,000 General Obligation Bonds, Series 2025.

Baird served as senior managing underwriter to Orange County, North Carolina (the “County”) on its $67,360,000 Limited Obligation Bonds, Series 2025 (the “Bonds”).

Baird served as sole underwriter on the negotiated sale of Winnebago County Forest Preserve District’s $1,905,000 General Obligation Limited Tax Bonds, Series 2025 which carried an “Aa2” Moody’s rating.

Baird’s California K-12 Public Finance group served as sole managing underwriter on $74,985,000 Antelope Valley Union High School District (Counties of Los Angeles and Kern, California) General Obligation Bonds (Dedicated Unlimited Ad Valorem Property Tax Bonds) 2024 Election, 2025 Series A (the “Bonds”).

Baird’s California K-12 Public Finance group served as sole managing underwriter on $76,000,000 General Obligation Bonds, 2024 Election, Series 2025A (the “Bonds”) for Petaluma City Schools (the “District”) in two separate series ($52,800,000 for the High School District and $23,200,000 for the Elementary School District).

Baird served as placement agent to the Community Park District of LaGrange Park’s issuance of $1,190,000 General Obligation Limited Tax Park Bonds, Series 2025.

Baird’s National Charter School Finance team served as sole managing underwriter on the $22,025,000 PSF-guarantee financing for Uplift.

Baird served as sole managing underwriter for FBISD’s $143,835,000 Variable Rate Unlimited Tax Refunding Bonds, Series 2025B (the “Bonds”).

Baird’s Wisconsin team served as sole managing underwriter on the $14,990,000 Redevelopment Authority of the Village of Slinger Lease Revenue Bonds.

Baird’s California K-12 Public Finance group served as sole managing underwriter on the $94,745,000 Certificates of Participation (2025 Financing) (the “COPS”) for San Bernardino City Unified School District (the “District”).

Baird’s California K-12 Public Finance group served as sole managing underwriter on the $28,340,000 General Obligation Refunding Bonds, Series 2025 (the “Bonds”) for San Bernardino City Unified School District (the “District”).

Baird served as placement agent to the City of Urbana on its issuance of $9 million in General Obligation Bonds, Series 2025.

Baird served as sole managing underwriter to Buncombe County, North Carolina (the “County”) on its $53,770,000 Refunding Limited Obligation Bonds, Series 2025 (the “Bonds”).

On March 20, 2025, Baird was hired via a competitive RFP process and served as sole underwriter on the negotiated sale of Manhattan Park District’s $2,055,000 General Obligation Bonds (Alternate Revenue Source), Series 2025 which carried a “AA-” S&P rating and “AA” rated bond insurance through Assured Guaranty.

Baird’s California K-12 Public Finance group served as sole managing underwriter on the $2,900,000 General Obligation Bonds, Election of 2024, Series A (Bank Qualified) for Chualar Union School District.

In February 2025, Baird served as municipal advisor to the Kentucky Municipal Energy Agency (KYMEA) on its inaugural public bond sale, issuing $121,980,000 in Power System Revenue Bonds to finance the Energy Center I (ECI) Project.

Following a competitive RFP process, Baird served as sole manager on the negotiated sale of Hanover Park Park District’s $8,000,000 General Obligation Park Bonds, Series 2025A.

Baird’s Ohio School team served as sole managing underwriter on the $47,780,000 School Facilities Construction & Improvement Bonds, Series 2025 transactions for Norwalk City School District.

Baird’s California K-12 Public Finance group served as senior-managing underwriter on the $13,400,000 2025 Certificates of Participation (Federally Taxable).

In December 2024, Baird’s National Charter School Finance team served as senior managing underwriter on the $37,370,000 BB+ rated transaction for Pinecrest Academy of Nevada (34-, 39-, 44-, 49-, and 53-year terms with a taxable bond maturing in 2026).

Baird’s California K-12 Public Finance group served as sole managing underwriter on the $4,820,000 2024 Certificates of Participation transaction for Upper Lake Unified School District.

Baird’s California K-12 Public Finance group served as sole managing underwriter on the $8,700,000 General Obligation Bonds Election of 2020, Series C transaction for Pacific Grove Unified School District.

Baird served as sole underwriter on the negotiated sale of the Community Park District of LaGrange Park’s $10,700,000 General Obligation Park Bonds, Series 2024.

Creating funding for campus expansion project.

Strong investor demand, resulting in aggressively low yields.

Baird served as sole underwriter on the City’s $19,360,000 General Obligation Bonds (Alternate Revenue Source), Series 2024.

Expanding STEM-focused education capabilities in Ohio.

Baird served as sole underwriter on the Village’s $3,655,000 Hotel/Motel Tax Revenue Bonds, Series 2024 and $26,985,000 Taxable Hotel/Motel Tax Revenue Bonds, Series 2024B.

Baird served as sole underwriter on the Village’s $8,610,000 First Lien Water and Sewer System Revenue Refunding Bonds, Series 2024.

Baird served as senior managing underwriter to the Trinity River Authority (the “Authority”) on its Red Oak Creek System Series 2024 Revenue Improvement and Refunding Bonds (“the Bonds”).

Baird served as municipal advisor on the City’s issuance of $12,015,000 General Obligation Bonds, Series 2024 to finance the acquisition, construction and installation of capital improvements.

Baird was selected to be in the City’s pool of underwriters and was appointed as senior managing underwriter on the City’s issuance of $25,160,000 General Obligation Refunding and Improvement Bonds, Series 2024.

Baird’s Ohio School team served as sole managing underwriter on the $18,200,000 School Facilities Bonds, Series 2024A (“Series A”) and $60,114,000 Series 2024B (“Series B”) (General Obligation – Unlimited Tax) transactions for Tipp City Exempted Village School District.

August 20, 2024, Baird served as senior managing underwriter to the City of Rowlett (the “City”) on its Series 2024 General Obligation Bonds (“GO Issue”), Series 2024 Combination Tax and Revenue Certificates of Obligations (“CO Issue”) and Series 2024 Tax Notes (“Tax Notes”).

Baird served as advisor on the City’s issuance of $34,215,000 General Obligation Bonds, Series 2024 that will finance stormwater and sewer improvements within the City.

Baird served as sole underwriter to the Village on its issuance of $5,545,000 General Obligation Bonds, Series 2024 which carried an “A3” underlying rating and “AA” rated bond insurance.

Baird’s National Charter School Finance team served as sole managing underwriter on the $18,290,000 non-rated 35-year fixed rate financing for Riverside Leadership Academy, securing a True Interest Cost (TIC) of 7.65%, with the ability to refinance as soon as 2026.

Baird served as municipal advisor on the Village’s issuance of $6,270,000 General Obligation Bonds, Series 2024 to finance improvements to the wastewater treatment facilities of the Glenbard Wastewater Authority, including, but not limited to, improvements to the primary clarifier and gravity thickener.

Baird served as senior managing underwriter to the City of Hutto (the “City”) on its Series 2024 General Obligation Bonds (“GO Issue”) and Series 2024 Combination Tax and Revenue Certificates of Obligations (“CO Issue”).

Baird served as sole underwriter on the Village’s $8,855,000 General Obligation Bonds, Series 2024.

Baird served as senior managing underwriter to the City of Corpus Christi (the “City”) on its Series 2024 General Improvement Bonds, Series 2024A Certificates of Obligation and Series 2024B Taxable Certificates of Obligations (the “Obligations”).

Baird served as senior managing underwriter to the Baytown Area Water Authority (the “Authority”) on its $21,525,000 Water Supply Contract Revenue Bonds, Series 2024 (the “Bonds”).

Baird was selected to serve as senior managing underwriter on the City’s $55,815,000 Taxable General Obligation Bonds, Series 2024A following a competitive RFP process.

Baird served as sole underwriter on the negotiated sale of the District’s $3,000,000 General Obligation Limited Tax School Bonds, Series 2024.

Baird served as sole underwriter on the City’s $27,615,000 General Obligation Bonds (Alternate Revenue Source), Series 2024 which financed $30 million in electric system improvements.

Baird served the City as placement agent on its issuance of $24 million General Obligation Grant Anticipation Promissory Note, Series 2024.

Baird was appointed as sole underwriter for the District’s negotiated sale of $7,305,000 General Obligation Bonds (Alternate Revenue Source), Series 2024.

Baird was selected to serve as sole underwriter on the Village’s $20,360,000 Taxable General Obligation Bonds, Series 2024A and 2024B.

Baird served as placement agent on the City’s $1,620,000 General Obligation Refunding Bonds (Alternate Revenue Source), Series 2024.

Baird was selected to serve as a 25% co-managing underwriter for the District’s $57,230,000 General Obligation School Bonds, Series 2024.

Baird served as sole underwriter on the City’s issuance of $2,500,000 General Obligation Bonds, Series 2023A.

Baird served as sole underwriter on the negotiated sale of Oswegoland Park District’s $3,000,000 General Obligation Limited Tax Park Bonds, Series 2023

Following a competitive RFP process, Baird was selected to be the sole underwriter for the District’s $5,000,000 General Obligation Limited School Bonds, Series 2023.

Baird served as sole underwriter on the City’s most recent transaction of $4,210,000 General Obligation Bonds, Series 2023.

Baird served as sole underwriter on the County’s $8,000,000 General Obligation Bonds (Sales Tax Alternate Revenue Source), Series 2023.

Baird served as sole underwriter on the City’s $9,985,000 General Obligation Bonds (Alternate Revenue Source), Series 2023A following a competitive RFP process.

Baird served as sole underwriter on the negotiated sale of the Oswego Fire Protection District’s $11,500,000 General Obligation Bonds, Series 2023.

Baird served as sole underwriter for the County’s $8,660,000 General Obligation Bonds (Alternate Revenue Source), Series 2023.

Following a competitive RFP process, Baird was selected to be the sole underwriter for the District’s $5,500,000 General Obligation Limited Tax School Bonds, Series 2023.

Baird served as sole underwriter on the City’s $4,795,000 General Obligation Bonds (Electric System Alternate Revenue Source), Series 2023 .

Following a competitive RFP process, Baird was selected to serve as senior managing underwriter on the District’s $45,700,000 General Obligation School Bonds, Series 2023.

Baird served as the sole underwriter for the District’s $5,235,000 General Obligation Limited School Bonds, Series 2022.

Baird served as placement agent on the District’s $5,000,000 General Obligation Voted Bonds, Series 2022.

Following a competitive RFP process, Baird was appointed as placement agent on the District’s $4,587,000 General Obligation Refunding Park Bonds (Alternate Revenue Source), Series 2022.

Following a competitive RFP process, Baird was appointed as placement agent on the District’s $2,131,000 General Obligation Refunding Park Bonds (Alternate Revenue Source), Series 2022.

Baird served as placement agent on the District’s $3,425,000 General Obligation Refunding Bonds, Series 2022.

Baird served as placement agent on Augustana College’s $17,305,000 Revenue Refunding Bonds, Series 2022.

Baird served as placement agent on the District’s issuance of $11,140,000 General Obligation Limited Tax Refunding Bonds, Series 2022A.

Baird served as placement agent on the District’s last two bond issuances in 2020 and 2022, totaling $3,454,000 in par amount.

Baird has served as municipal advisor to Deerfield Park District since 2012, including the District’s most recent issuance of $4,995,000 General Obligation Limited Tax Park Bonds, Series 2022.

Following a competitive RFP process against five other underwriting firms, Baird was appointed as sole underwriter on the negotiated sale of Waukegan Park District’s $12,000,000 General Obligation Park Bonds, Series 2022.

Baird served as placement agent to the District on its $1,995,000 Waterworks Refunding Revenue Bonds, Series 2022.

Baird served as sole underwriter on the District’s issuance of $32,545,000 General Obligation Limited Tax Bonds, Series 2022 which carried a “AAA” rating.

Baird served as sole manager for the District’s $4,095,000 Debt Certificates, Series 2021.

Baird served as sole underwriter on the District’s $9,180,000 General Obligation Refunding School Bonds, Series 2021C.

Baird served as sole underwriter on the District’s Taxable General Obligation Refunding School Bonds, Series 2021.

On June 23, 2021, Baird served as Sole Managing Underwriter for the Milwaukee School of Engineering (“MSOE”).

Baird served the District as sole underwriter on the issuance of $19,750,000 Taxable General Obligation Limited School Bonds, Series 2021.

Baird served as sole underwriter on the District’s issuance of $14,950,000 General Obligation School Bonds, Series 2021.

Baird served as sole underwriter on the District’s issuance of $16,940,000 General Obligation Limited Tax School Bonds, Series 2021B.

Baird served Bellwood School District Number 88 as sole underwriter on its issuance of $8,475,000 General Obligation Limited Tax School Bonds, Series 2021A and $13,465,000 Taxable General Obligation Limited Tax School Bonds, Series 2021B.

Baird served as sole underwriter on the District’s $29,495,000 Taxable General Obligation Refunding Bonds, Series 2021 and $61,755,000 General Obligation Refunding Bonds, Series 2021B.

Baird served as senior managing underwriter on the District’s $47,440,000 General Obligation Limited Tax School Bonds, Series 2020B, and placement agent on the $27,135,000 General Obligation Limited Tax School Bonds, Series 2020D and $3,660,000 General Obligation School Bonds (Alternate Revenue Source), Series 2020E.

Baird served as the sole underwriter on the University’s $26,245,000 Adjustable Rate Demand Economic Development Revenue Refunding Bonds, Aurora University, Series 2019 and $15,245,000 Adjustable Rate Demand Economic Development Revenue Refunding Bonds, Aurora University, Series 2020 which were rated “A2”/”VMIG 1”.