Bond Underwriting Enterprise Fund- Revenue Bonds, Series 2026

The City and County of Broomfield is soliciting proposals from qualified underwriters for two Enterprise Revenue Bonds, Series 2026, through a Request for Quote procurement process. The bonds include a Water Revenue Bond for approximately $70,000,000 to construct two new water tanks north of West 144th Avenue, and a Wastewater Revenue Bond for approximately $115,000,000 to support Phase 2 of the Wastewater Treatment Facility Expansion. Prospective underwriters must submit proposals through the BidNet system by June 30, 2025, at 3:00 pm, with the bond issues expected to close in January 2026. The procurement requires underwriters with specific experience in enterprise revenue bonds in Colorado, particularly those familiar with Broomfield's municipal infrastructure. Evaluation criteria will likely include the underwriter's expertise, financial capability, and understanding of municipal bond structures, with a preference for firms experienced in negotiated sales of tax-exempt municipal bonds.

The solicitation does not explicitly mention set-aside designations or restrictions for disadvantaged business enterprises. Broomfield has recently received a Moody's rating of Aa2 for the Water Enterprise and an upgrade to Aa2 for the Wastewater Enterprise, indicating strong financial standing. The bonds will be issued as special, limited obligations of the water and wastewater enterprises, with a negotiated method of sale at fixed rates. Butler Snow, LLP has been retained as Bond Counsel, and RBC Capital Markets, LLC serves as the Financial Advisor for this transaction. The total bond issuance value is approximately $185,000,000, with proceeds dedicated to critical infrastructure projects including water storage improvements to support fire flows and development, and wastewater treatment facility expansion to meet future population increases and regulatory requirements from the Colorado Department of Public Health and Environment.