The City awarded the purchase of the solid waste revenue bonds to Robert W. Baird & Company.  The bid proposal between the City of Billings and Robert W. Baird & Company has been signed and accepted by Council on January 28, 2019.  The bond proceeds will be used for the construction of a drop-off building, maintenance building, scale plaza, C&D and HHW drop-off areas, and a new diesel fueling station.

  This resolution authorizes the issuance of the bonds and recaps the details of the bonds.

This is the final step of the bond sale. Once Council approves the resolution, the closing will take place in February and the money will be disbursed to the project.

 The term of the bonds will be 20 years with debt service being paid from the solid waste funds.  The interest rate is 3.09%

Staff recommends that the City Council approve the attached bond resolution providing financing for the landfill construction project.