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.
###
