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Refinancing

CITY OF SILVERTON ANNOUNCES REFINANCE SAVINGS

July 5, 2022 By Molly Harrison

Silverton, OR (July 2022) – The City of Silverton announces the refinancing of two current debt obligations. One of the original notes was procured through the Local Oregon Capital Assets Program (LOCAP), a financing program available to members of the League of Oregon Cities and the Association of Oregon Counties. The other obligation was a Sewer Revenue Refunding Bond Series 2010. The new refinanced obligation provides a payment schedule tailored to the City’s needs and provides significant savings. Structuring for the refinancing was provided by Government Capital Corporation, Southlake, Texas.

“Government Capital Corporation has assisted us with multiple projects over the past two years. The most recent refinancing completed with Government Capital, allowed us to save over $600,000.” commented Kathleen Zaragoza, Deputy City Manager/Finance Director, City of Silverton. “It is always a pleasure to work with the experienced and professional team at Government Capital.”

“I would like to congratulate Kathleen Zaragoza and the City of Silverton on this refinancing,” stated Stephanie Cates, Vice President, Government Capital Corporation. “This is a great example of dedicated leaders diligently assessing and acting on the needs of their community.”

About the City of Silverton

The City of Silverton was incorporated in 1885 and is now home to over 10,000 residents. The first settlers of Silverton came to the banks of the Silver Creek, following timber and waterpower, in the 1800s. The City of Silverton is the host of the Oregon Gardens and is known as the Gateway to Silver Falls. To learn more visit www.silverton.or.us

About Government Capital Corporation

Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $5 billion in Oregon and across the country. For more information, visit www.govcap.com

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Filed Under: City, Press Releases, Refinancing

FAIRFIELD ECONOMIC DEVELOPMENT CORPORATION REDUCES INTEREST COST

June 7, 2022 By Molly Harrison

Fairfield, TX (June 2022) – The Fairfield Economic Development Corporation (FEDC) announces the refinancing of a current debt obligation. The original note was used to provide infrastructure improvements to the city’s industrial park. The refunding provided for significant interest savings. Structuring for the debt refunding was provided by Government Capital Corporation, Southlake, Texas.

“The FEDC selected Government Capital Corporation in 2018 to provide financing for our industrial park project and it was a great success,” commented David Fowler, President, Fairfield Economic Development Corporation. “Utilizing Government Capital Corporation for our refinancing of the original loan, and we are very pleased with the outcome. Government Capital hit a home run for us 2 times now and we are glad we selected the right financial partner.”

“I would like to congratulate Mr. Fowler and the Fairfield Economic Development Corporation on this refunding,” stated Stephanie Cates, Vice President, Government Capital Corporation. “This is a great example of dedicated leaders looking towards the future to meet the goals and objectives of their citizens.”

About Fairfield Economic Development Corporation

Fairfield Economic Development Corporation is a non-profit, Type A, economic development corporation whose mission is to promote, assist, and enhance economic development opportunities in Fairfield, Texas. The FEDC is funded by a ½ of 1 percent sales and use tax collected in the City of Fairfield. To learn more visit www.fairfieldtx.com

About Government Capital Corporation

Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $5 billion in Texas and across the country. For more information, visit www.govcap.com

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Filed Under: Economic Development, Press Releases, Refinancing

ALTOONA-MIDWAY USD ANNOUNCES REFINANCE SAVINGS

September 9, 2021 By Molly Harrison

Altoona-Midway Unified School District, KS (September 2021) – Altoona-Midway Unified School District announces the successful completion of its debt consolidation project. The existing original notes were used for roofing, sidewalks, upgrades in HVAC systems, and various other campus improvements. The consolidation reduced the annual debt service of the district and simplified its debt structure going forward. Government Capital Corporation, Southlake, Texas provided the financing as well as the feasibility analysis. The legal review of contracts was provided by the Kansas Association of School Boards.

“Government Capital walked us through each step of the process and provided timely responses to our questions,” stated Reyna Almond, Altoona-Midway Unified School District Board Clerk. “We’ve had an ongoing relationship with Government Capital for over five years and their experience and expertise in municipal financing is invaluable.”

“It was an honor and a privilege to work alongside Reyna Almond, Altoona-Midway Unified School District Board Clerk,” stated Jennifer Draper, Municipal Finance Specialist, Government Capital Corporation. “We take great pride in assisting school districts meet their goals and objectives.”

About Altoona-Midway Unified School District

Altoona-Midway Unified School District is located in Buffalo, Kansas and educates pre-kindergarten through 12th grade. The school serves an attendance of 180 students. To learn more visit www.usd387.org

About Government Capital Corporation

Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $4.8 Billion across Kansas and the nation.  For more information, visit www.govcap.com

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Filed Under: Press Releases, Refinancing, School

OAKLAND ANNOUNCES REFUNDING SAVINGS

June 8, 2021 By Molly Harrison

Oakland, Oregon (May 2021) – The City of Oakland recently announced the refunding of a Business Oregon Economic and Community Development loan. The original note proceeds were used for the 2005 construction of a water treatment plant.  The refinancing provided substantial savings to the City and its constituents maintaining the same loan terms but with a reduced fixed interest rate.  The tax-exempt financing structure for the refunding was provided by Government Capital Corporation, Southlake, Texas. Jim Shannon of Mersereau Shannon LLP, Portland, Oregon provided the documentation and legal review.

“The prospect of a refunding was simplified by the experienced staff at Government Capital Corporation,” stated Terri Long, City of Oakland City Recorder.  “It is great to take advantage of savings for the residents and businesses in our city as well as eliminate the covenants incurred with the original loan.”

“It was a pleasure to work with Terri Long on this refunding,” stated Lisa Hott Government Capital Client Services. “The current economic environment has municipalities searching for ways to streamline their budgets and we were delighted to provide assistance.”

About the City of Oakland

The City of Oakland is surrounded by meadows, mountains, and the Calapooya Creek in Douglas County.  Oakland was the first city to be placed on the state’s historic register.  The City’s two-block business district consists of the original brick buildings built in the 1880s and 1890s, with more than 80 properties constructed between 1852 and 1890.  Oakland is a community, not just a place to live. To learn more visit www.oaklandoregon.org

About Government Capital Corporation

Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $4.5 Billion in Oregon and across the nation.  For more information, visit www.govcap.com

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Filed Under: City, Press Releases, Refinancing

CITY OF BROWNSVILLE ANNOUNCES REFINANCE SAVINGS

February 23, 2021 By Paige Locknane

Brownsville, Oregon (February 2021) – The City of Brownsville announces the refinancing of an Oregon Economic and Community Development Department loan. The original note proceeds were used for repairs to the city’s wastewater system to reduce inflow and infiltration, install a force main to allow the transfer of wastewater from the north treatment unit, construct dichlorination facilities and other various system-wide improvements. The refinancing reduced the interest rate by almost half, resulting in tens of thousands of dollars in savings for the city and its constituents. Government Capital Corporation, Southlake, Texas provided the financing as well as the feasibility analysis. Jim Shannon of Mersereau Shannon LLP, Portland, Oregon provided the documentation and legal review.

“The staff at Government Capital provided timely responses to our questions as well as met our timeline for the required closing,” commented Scott McDowell, Brownsville City Administrator. “Their experience and expertise financing municipal notes was invaluable.”

“This is a great example of municipal fiscal leadership. It was an honor and privilege to work with Mr. McDowell,” stated Jana Offutt, Client Services, Government Capital Corporation. “We take great pride in assisting state and local governments meet their goals and objectives.”

About the City of Brownsville
Founded in the 1840’s, Brownsville is a small town of 1,700 people located in the southern Willamette Valley of western Oregon. Conveniently located within 25 miles of Eugene, Albany, Corvallis, Sweet Home and Lebanon; Brownsville has maintained a true small-town feel. Downtown Brownsville is a wonderful collection of 1880’s to 1920’s buildings with a shopping district, cafes, and antique stores, as well as the beautiful 26-acre Pioneer Park surrounded by the Calapooia River. For more information visit www.ci.brownsville.or.us.

About Government Capital Corporation
Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $4.5 Billion in Oregon and across the nation. For more information, visit www.govcap.com.

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Filed Under: City, Press Releases, Refinancing

CITY OF MAUPIN ANNOUNCES REFUNDING SAVINGS

November 4, 2020 By Paige Locknane

Maupin, Oregon (November 2020) – The City of Maupin announces the refunding of a Rural Community Assistance Corporation loan. The original note proceeds were used for the 2019 construction of the City of Maupin Civic Center and County Library facility. The refunding reduced the city’s total interest cost more than $200,000.  The loan structure and pricing were provided by Government Capital Corporation, Southlake, Texas. Jim Shannon of Mersereau Shannon LLP, Portland, Oregon provided the documentation and legal review.

“The 20-year fixed rate financing provided by Government Capital not only resulted in savings for our constituents, but was also closed in less than 30 days,” stated Christine Kurtz, Maupin City Recorder. “Additionally, the interest rate was 1.5% lower than our other alternatives and their finance fees were substantially less.”

“It was an honor and a privilege to work alongside Christine and Mayor Lynn Ewing,” stated Lisa Hott of Government Capital Corporation.  “The current economic environment has municipalities searching for ways to streamline their budgets and we were delighted to provide assistance.”

About the City of Maupin
Maupin is located on the Lower Deschutes River at the crossroads between central and eastern Oregon and the Columbia River Gorge. It’s unique location and landscape make it a sought-after place for water and outdoor recreation, with visitors enjoying rafting, fishing, cycling and more. With a population around 430, residents and visitors are drawn to the small-town lifestyle with the amenities of a larger city, such as high-speed fiber internet. Folks often say. “There’s never a bad day in Maupin.” To learn more visit www.cityofmaupin.org

About Government Capital Corporation
Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $4 Billion in Oregon and across the nation. For more information, visit www.govcap.com

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Filed Under: City, Press Releases, Refinancing

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