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Water Sewer Utilities Finance

Water & Sewer

Finance Group

We take pride in the level of service and dedication that we provide to our municipal issuer clients. We strive to provide those clients with an in-depth knowledge of the industry and to create thoughtful and innovative solutions to their financing objectives. No matter your financing needs or objectives, our team is prepared to exceed your expectations.

Water & Sewer Financing Office Locations:


Water & Sewer Finance 

George K. Baum & Company consistently ranks among the nation's leading underwriters of negotiated water and sewer financings. Over the past 10 years (1/1/2005 to 2/13/2015), we have senior-managed more than 240 water and sewer issues totaling over $4.4 billion.

To follow is a partial list of issuers for which we have served as senior managing underwriter or financial advisor for their water and/or sewer financings.


ALASKA

Alaska Municipal Bond Bank (Kodiak Water System)


CALIFORNIA

City of Bakersfield
Bella Vista Water District
Calaveras County Water District
Franklin County Water District
City of Nevada City
City of Santa Maria


COLORADO

City of Aurora
City of Black Hawk
City of Boulder
Boxelder Sanitation District
City of Breckenridge
City of Brighton
Castle Pines Metropolitan District
City of Castle Rock
Cherokee Metropolitan District
Cherokee Water and Sanitation District
City of Cherry Hills Village
City of Colorado Springs
City of Crested Butte
Crowley County
City of Delta
City and County of Denver
City and County of Denver Board of Water Commissioners
City of Dillon
East Boulder County Water District
East Cherry Creek Valley Water Sanitation District
City of Englewood
City of Erie
Evergreen Metropolitan District
Forest View Acres Water District
City of Fort Collins
City of Fort Lupton
City of Fort Morgan
City of Fraser
City of Golden
City of Granby
City of Grant Water and Sanitation District
City of Greeley
City of Gunnison
Town of Gypsum
City of Idaho Springs
City of Johnstown
City of Lake City Area Water and Sanitation District
City of Las Animas
Left Hand Water District
Little Thompson Water District
City of Limon
City of Lyons
City of Manitou Springs
Mid Valley Metropolitan District
City of Monument
Monument Sanitation District
City of Northglenn
City of Pagosa Springs
Pasoga Area Water and Sanitation District
City of Salida
City of Silt
St. Charles Mesa Water District
City of Steamboat Springs
Summit County
Summit Ridge Water District
Wah Keeney Park Water and Sanitation District
City of Walsenburg
Woodmoor Water & Sanitation District No. 1


IDAHO

City of Coeur d'Alene
Hayden Lake Recreational Water and Sewer District
City of Ketchum


ILLINOIS

City of Bourbonnais
City of Chicago Metropolitan Water District
Greater Chicago Metropolitan Water Resources District
City of Coal City
City of Hillsboro
City of McCook
City of Oak Lawn
City of Sandwich
City of Worth


KANSAS

City of Arkansas City
City of Atchison
City of Belleville
City of Bonner Springs
City of Buhler
City of Concordia
City of El Dorado
City of Ellsworth
City of Garden City
City of Great Bend
City of Fort Scott
City of Hays
City of Haysville
Johnson County Water District No. 1
City of Junction City
Kansas Development Finance Authority (Water Pollution Control Revolving Fund)
City of Lakin
City of Lansing
City of Lebanon
City of Louisburg
City of Neodesha
City of Newton
City of North Newton
City of Olathe
City of Ottawa
City of Park City
City of Pittsburg
City of Rose Hill
City of Rossville
City of Sabetha
City of Salina
City of Scott City
City of Seneca
City of Spring Hill
City of Topeka
City of Ulysses
City of Valley Center
City of WaKeeney
City of Wichita
City of Winfield


MISSOURI

Butler County Public Water Supply District No. 1
City of California
City of Chillicothe
City of Columbia
City of Concordia
City of Fayette
City of Gladstone
City of Hannibal
City of Harrisonville
City of Kansas City
City of Lawson
Missouri Economic Development Export Board (Community Water Company)
Missouri State Environmental Improvement and Energy Resource Authority
Missouri Valley Drainage and Levee District
City of Moberly
City of Poplar Bluff
Ray County Consolidate Water District No. 2
City of Riverside
City of St. Joseph
City of West Plains

MONTANA

City of Billings

NEW MEXICO

City of Rio Rancho
City of Santa Fe


TENNESSEE

City of Harriman
City of Kingston


TEXAS

Clear Brook City Municipal Utility District
Dallas County Utility and Reclamation District
Faulkey Gully Municipal Utility District
Harris County Municipal Utility District No. 150
Harris County Municipal Utility District No. 33
Harris County Water Control Improvement District No. 92
Horsepen Bayou Municipal Utility District
Hunters Glen Municipal Utility District
Northwest Harris County Municipal Utility District No. 9
Tara Glen Municipal Utility District
West Harris County Municipal Utility District No. 9
West Harris County Municipal Utility District No. 10
White Oak Bend Municipal Utility District


UTAH

Central Utah Water Conservancy District
Duchesne County Upper Country Water District
Granger-Hunter Improvement District
Kearns Improvement District
City of Lehi
City of Logan
North Davis County Sewer District
Roy Water Conservancy Sub District
Salt Lake County Sewerage Improvement District No. 1
City of Santa Clara
Snyderville Basin Sewer Improvement District
South Valley Sewer District
City of Spanish Fork City
City of Springville
City of St. George
Timpanogos Special Services District
Utah Water Finance Agency
Washington County Water Conservancy District
Weber Basin Water Conservancy District
Weber-Box Elder County Conservation District
City of West Jordan
City of White City Water Improvement District


WASHINGTON

Lake Chelan Reclamation District
City of Moses Lake


WYOMING

Central Wyoming Regulatory Water Joint Powers
Cheyenne County
Green River Joint Powers Water Board
Wyoming Municipal Power Agency
Our Water & Sewer Finance professionals provide a wide range of services to our clients.
These services include, but are not limited to, the following:

UNDERWRITING SERVICES

George K. Baum & Company is one of the nation's leading underwriters of municipal bonds. Our decades of experience, combined with the frequency in which we bring bond issues to market, helps our clients obtain competitive borrowing costs and some of the most attractive terms available in the market.

MUNICIPAL ADVISORY SERVICES

The synergy of local expertise and national resources is unique to George K. Baum & Company and is the foundation of our municipal advisory business. These services are significantly complemented by our underwriting experience developed while working on other transactions. It is vital for a municipal advisor to be in-step with the market. We believe that to be an effective municipal advisor for a client, a firm must maintain an active underwriting presence on other transactions. Our underwriting experience allows us to analyze all of our clients' outstanding bonds for refunding opportunities, monitor market conditions to guide the timing of our clients' bond sales and interpret market activity. This underwriting experience allows us to identify the most effective structures and sale methods available for our clients' bonds and to make other informed recommendations to our clients when engaged as a municipal advisor.

DIRECT PLACEMENT FINANCINGS

In assessing a client's financing options, we detail the pros, cons and risks of direct placement financings or debt issuances sold in the public markets based on the competitive nature of the proposals and a client's own credit rating. George K. Baum & Company has a frequent presence pricing bonds in the primary market and in the arrangement of direct purchases. This experience enables our clients to obtain some of the lowest borrowing costs and most attractive terms available.

DUAL TRACK FINANCING PROCESS

George K. Baum & Company has developed a unique "dual track" financing process to assist clients in determining the most appropriate financing structure for their offering. The dual track includes distributing a credit package to banks and rating agency(ies) for their review as part of the client's Request for Proposal ("RFP") process. George K. Baum & Company orchestrates the RFP and rating processes and prepares a comprehensive summary analysis to simplify the decision-making process. The dual track RFP process often yields extraordinary results for our clients because banks are put in a competitive situation.

FINANCIAL PROJECTIONS MODELING

With direct input from the client, George K. Baum & Company utilizes its proprietary financial models that forecast and stress-test the client's future financial viability after incurring new, or refinancing existing, debt. The financial modeling process assists the client in developing parameters around a prudent level of debt capacity. The model is an interactive tool that can be adjusted and changed in real time, allowing for informed and efficient decisions. It also serves as the basis for conveying the client's current and future financial performance to potential financing partners.

IN-HOUSE QUANTITATIVE CAPABILITIES

George K. Baum & Company is at the leading edge of quantitative analysis for municipal financings. Our commitment to quantitative analysis led to the formation of a specialized quantitative finance group whose sole responsibility is to develop and implement functional and analytical tools for our clients. Our quantitative professionals do not rely on any outside resources. All of the work performed for our clients is done in-house. Our significant experience in the area of debt structuring includes all aspects of refunding and cash flow modeling, such as crossovers, invested sinking funds and transferred proceeds. Our quantitative professionals specialize in performing a variety of important tasks, including;

• Bond Structuring
• Refunding Calculations & Innovations
• Pro Forma Analysis
• Escrow Restructurings
• Cash Flow Analysis

NEW PROJECT FINANCING

George K. Baum & Company assists our clients with a wide variety of debt financing for acquiring or expanding existing facilities or building new ones using publicly issued bonds or direct purchases. Our expertise in both the public markets and the direct purchase markets enables our clients to analyze the full range of financing possibilities.

RATING AGENCY PRESENTATIONS

George K. Baum & Company has developed proprietary methodologies for working with rating agencies to secure first-time, or obtain renewed, ratings for our borrowers. George K. Baum & Company devotes extensive resources to the development of each credit package with the intention of exceeding the expectations of the client and rating agencies.

REFINANCING & RESTRUCTURING DEBT

George K. Baum & Company assists our clients by taking advantage of market opportunities to refinance or restructure existing debt. Cash flow savings from reduced annual debt service can improve operating budget flexibility and be reinvested by our clients.

SWAP ADVISORY SERVICES

George K. Baum & Company has advised its clients on more than 400 interest rate swap transactions totaling more than $10 billion. Our Specialty Financial Products Desk works closely with our team and clients to implement an interest rate swap strategy that meets the financial needs of those clients.