Fairmont Civicplus #RFP: SEWERAGE DESIGN BOND

Fairmont seeks $4 million in sewer system design bond anticipation notes

The City of Fairmont is seeking a financial institution to purchase notes that will finance sanitary sewer system design and pre-construction work. - Government buyer: City of Fairmont, West Virginia; no sub-agency or office is identified. - Financing requested: $4,000,000 in tax-exempt, bank-qualified Sewerage System Design Bond Anticipation Notes, Series 2026 A. - Use of proceeds: Design and pre-construction activities for additions, betterments, and improvements to the City’s sanitary sewer collection and treatment system. - Key terms: Four-year term, with principal advances over the first 36 months. Interest is fixed, non-adjustable, and simple, with monthly interest-only payments on principal advanced. The notes may be prepaid in whole or in part without penalty. - Repayment and security: Interest is payable from and secured by surplus sewerage system revenues; principal is expected to be repaid from proceeds of one or more sewer revenue bonds. The notes are not secured by the system’s net revenues or other City revenues. - OEMs and vendors: No OEMs, financial institutions, or other vendors are named.

Description

The City of Fairmont is seeking proposals from financial institutions to purchase $4,000,000 in tax-exempt Bond Anticipation Notes. Proceeds will finance design and pre-construction activities for additions, betterments, and improvements to the City’s sanitary sewerage collection and treatment system. The notes have a four-year term, with principal advances over the first 36 months and monthly interest-only payments on amounts advanced; proposals must quote a fixed, bank-qualified tax-exempt interest rate. Proposals are due November 25, 2026, at 11:00 AM EST.

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