Transaction Details

Winnebago County Forest Preserve District

Municipal

Lead Bookrunner

On May 28, 2025, 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 a “Aa2” Moody’s rating. Baird was hired via a competitive RFP process after the District switched from competitive to negotiated sale in light of the market volatility. We shortened the formal order period to one hour to limit market risk in light of the volatile market environment. As a result of our pre-marketing efforts, Baird received $4,345,000 in orders (2.3x the par amount) with oversubscriptions in 4 of 7 maturities by up to 3x. Because of the oversubscriptions, Baird was able to tighten (lower) interest rates in the 2030 and 2032 maturities by 3 basis points (0.03%). The transaction had a true interest cost of 3.60% over the 8-year term. The Bonds generated $2 million in proceeds to finance land acquisition.