Cities, counties, towns, and districts can finance or refinance water and wastewater projects through the Public Finance Authority (PFA) at AA rates.
- Low cost borrowing available through a public offering
- Simple financing requirements and reduced ongoing reporting burdens
- Fast and certain access to co-funding or total funding
- Sole provider in service area
- Facilities serve more than 1,000 connections or more than 5,000 total population
- Independent rate setting authority
- Loan amounts ranging from $2,000,000 to $30,000,000
- Senior pledge of gross or net system revenues
- Maintain rates and charges to generate net revenues at least 120% of annual debt service
- Pay 1/10 of annual debt service as monthly deposits to PFA’s trustee
- Provide ongoing disclosure of financial status and material events in a format provided by PFA
- Provide additional security through a reserve surety with AGM and/or a cash funded reserve
Borrowers must be approved by AGM prior to the issuance of any insurance policy and nothing herein shall constitute an offer to sell or solicitation of any offer to buy any insurance policy.
D.A. Davidson & Co.
505 Montgomery Street, 11th Floor
San Francisco, CA 94111
T +1 415-848-6708