Transaction Details

City of Park Ridge

Municipal

Municipal Advisor

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. The Bonds were issued to finance various capital improvements, including renovation of Fire Station 35, construction of four green alleys involving the removal of existing stone surfaces, replacement of major HVAC components and automation of HVAC controls in City Hall, construction of a new salt dome, the City’s annual sidewalk replacement and repair program, resurfacing and repairs to the City’s water tower, and the annual water main replacement program.

The Bonds were sold via competitive sale and received 7 bids from underwriters. Overall, the City achieved a true interest cost of 4.17% on a 20-year term.