Overview
The Broomfield Urban Renewal Authority (“BURA”) is seeking documented quotes from certain prospective underwriters regarding the anticipated conversion of BURA’s Tax Increment Revenue Bonds, Series 2005 (the “2005 Bonds”), from a variable rate to a fixed rate. The 2005 Bonds had an original issue amount of $59,785,000 and have a present-day balance estimated at $39,000,000.
Professionals
The law firm of Butler Snow, LLP has been retained by BURA as Bond Counsel for this transaction, and in such capacity will also assist in the preparation of all documents required for the rate conversion. Butler Snow, LLP will render an opinion in customary form. RBC Capital Markets, LLC is serving as BURA’s Financial Advisor.
Submission of Proposals
BURA is seeking an underwriter with specific experience in tax increment revenue bonds in Colorado. BURA will take into consideration the firm’s specific experience with similar transactions, the relevant experience with BURA and the City & County of Broomfield and experience of the public finance and underwriting professionals. BURA expects to select the firm which it believes will best meet its overall expectations & timeline for the proposed rate conversion. The transaction is expected to close in January 2025.
