Transaction Details

North Park Fire Protection District

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Baird served as placement agent on the District’s $5,000,000 General Obligation Voted Bonds, Series 2022. The bonds were approved by referendum and proceeds were used to build and equip a new centralized fire station to better serve its residents and create efficiencies.

While a term of 20 years typically limits the number of potential buyers on a placement, Baird identified five potential purchasers that could get comfortable with the credit despite the District’s low General Fund reserves and lean operations.

The District locked in a fixed rate of 4.68% for a 20-year term on September 12th prior to the Fed’s September meeting and generated tax impacts below what was promised to taxpayers leading up to the referendum, despite the rising interest rate environment.