City Refinances Bonds for Interest Savings

The City of Kelso (the “City”) is in the process of refinancing the 2010 Water & Sewer Revenue Bonds for interest cost savings.  At the same time, they decided to finance water and sewer improvements.  As part of the bond financing process, the City’s staff presented information to the national rating agency of S&P Global Ratings.

According to City Manager Andy Hamilton, “the City’s Water & Sewer Revenue Bond rating was re-affirmed at A+.  This is a great accomplishment for the City and its citizens!  This rating of A+ reflects that the City is well-managed and has good financial practices in place for the benefit of our ratepayers.  The higher the rating, then the lower the interest cost.”

According to Finance Director Brian Butterfield, “the A+ rating is based on the following key factors:  1. Demonstrated track record of strong financial reserves; 2. Strength of the local economy; 3. Strong parity debt service coverage ratios of the Water & Sewer System; 4. Financial management and practices; and 5. Experienced management in operating the Water & Sewer System in an efficient manner.”

The presentation team was comprised of: City Manager Andy Hamilton, Finance Director Brian Butterfield, Public Works Superintendent Randy Johnson, Utility Operations Manager Devin Mackin, Community Development Director/City Engineer Mike Kardas, Councilmember David Futcher, and Bond Underwriter Jim Nelson of D.A. Davidson & Co.   The team presented information and answered questions that dealt with the topics of management, finances, economic growth and long-term planning. 

The Water & Sewer Improvement and Refunding Revenue Bonds were priced on November 5th in Seattle at the offices of D.A. Davidson & Co., serving as Bond Underwriter.  The Bonds achieved a True Interest Cost of 1.73%.

Brian Butterfield further explained “the City was fortunate to time the pricing of the Bonds near an interest rate low.  The 20-year Water & Sewer Improvement Revenue Bonds will finance $3,000,000 in system improvements, including the Paxton Reservoir transmission line replacement and the Donation Pump Station rehabilitation.  The 11-year Water & Sewer Refunding Revenue Bonds achieved total net savings of $970,426.  The average annual savings are $88,221.   

PRELIMINARY BUDGET NOTICE

NOTICE IS HEREBY GIVEN that the City Manager of the City of Kelso has filed with this office a copy of the preliminary budget for the ensuing biennium 2021-2022.  A copy will be furnished to any taxpayer who call during normal business hours at the Office of the City Clerk at 203 South Pacific , Suite 102, Kelso, Washington after October 31, 2020.  

Dated at Kelso, Washington, this 25th day of September, 2020. Brian Butterfield City Clerk City of Kelso 

Publish: October 17, 2020 and October 24, 2020

Important Construction Notice

Cascade Natural Gas is in the process of installing new facilities across Interstate 5.  To do so, equipment to perform this project will be staging in the area of the Kelso Skate Park.    Cascade Natural Gas has contracted with Infrasource Services, LLC to complete this project.  The project is expected to take about 2 weeks starting 10-7-2020.  During this time, for safety purposes, the parking lot off of Minor Rd will be closed, every attempt to keep the Skate Park itself open during this time period but there will be intermittent closers of the Skate Park while crews perform certain activities.

Cascade Natural Gas is committed to completing the work with as little inconvenience to the public as possible. We appreciate your patience and cooperation.

Questions or concerns should be directed to them via 1-888-522-1130 or www.cngc.com

The City of Kelso hereby announces its fiscal year 2021, 2022, and 2023 goal of 2.3% for Disadvantaged Business Enterprise (DBE) airport construction Contracts. A public telecom will be held on September 9, 2020 at 10am. If you would like to participate please reach out to Rick Nichols at rnichols@centurywest.com for meeting details. The proposed goals and rationale are available for inspection here, and in person between 8:00 a.m. and 5:00 p.m., Monday through Friday at the address below. Due to safety practices related to COVID, please contact the airport office in advance to make an appointment at 360-261-8268.

• Public Notice
• Proposed Goals and Rationale

Southwest Washington Regional Airport
2222 South Pacific Ave.
Kelso, WA 98626

Comments on the DBE goal will be accepted for 30 days from the date of this publication and can be sent to the following:

Christopher Paolini
Airport Manager
2222 South Pacific Ave.
Kelso, WA 98626
(360) 261-8268

AND

Federal Aviation Administration Northwest Mountain Regional Office
Office of Civil Rights Staff
Sonia Cruz
2200 S 216th Street
Des Moines, WA 98198

Contract Goals

The City of Kelso will use contract goals to meet any portion of the overall goal that the recipient does not project being able to meet using RN means. Contract goals are established so that, over the period to which the overall goal applies, they will cumulatively result in meeting any portion of the recipient’s overall goal that is not projected to be met through the use of RN means.

The City of Kelso will establish contract goals only on those DOT-assisted contracts that have subcontracting possibilities. It need not establish a contract goal on every such contract, and the size of the contract goals will be adapted to the circumstances of each such contract (e.g., type and location of work and availability of DBE’s to perform the particular type of work).

We will express our contract goals as a percentage of the Federal share of a DOT-assisted contract.