Berkeley County Public Service Water District, West Virginia
Our team of advisors at Compass have a long-standing relationship with Berkeley County Public Service Water District. Located within 100 miles of both Washington, DC and Baltimore, MD, the District has experienced significant residential, industrial, and commercial growth over the last ten years. Our advisors continue to work with District officials to fund long-term capital needs to address the District’s growth and aging facilities. In 2020, Compass advised on a long-term bond issue to complete funding of a variety of capital improvement projects, including improvements to the District’s Transmission and Distribution plant.
Compass advised on a mix of short-term notes and long-term bonds to fund the District’s Transmission and Distribution Plant improvements. A Bond Anticipation Note was issued in 2017 to address the immediate project need. The long-term takeout of the Note occurred in 2020 when the District’s long-term aggregate debt structure was more favorable for additional debt. The long- term bonds were issued as a dual series to preserve Bank Qualification status and was insured by Build America Mutual and included a debt service reserve surety policy.
SCOPE OF SERVICES
Long-Term Capital Planning