Transaction Details

City of Woodstock

Municipal

Municipal Advisor

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, including improvements to roads, the waterworks and sewerage system and the City’s Recreation Center.

The project is part of a planned five-year, $50 million investment in the City’s streets and related infrastructure. The issuance of the 2025 Bonds will complete the five-year Enhanced Streets Resurfacing Program.

The Project will also finance improvements to the North and South Side Sewer plants to reduce Phosphorus as mandated by the EPA. These improvements will include design and construction of a phosphorus reduction building and pumping changes.

The Project will also finance renovations of the City’s Recreation Center, including exterior upgrades, drainage improvements, remodeling the entrance way and front desk/office area, renovating the sauna and locker rooms, replacing the gymnasium roof, installing security camera and key fob system, and adding an Americans with Disabilities Act compliant restroom in the multipurpose room.

The Bonds were sold via competitive sale and received 3 bids from underwriters. Overall, the City achieved a true interest cost of 4.55% on a 20-year term.