Cascade hires underwriter, sets public hearing for up to $1.45M general-obligation loan for street work

Oct. 27, 2025 — The Cascade City Council approved hiring D.A. Davidson & Company as underwriter for the 3rd Avenue Southwest and Hayes Street Southwest reconstruction project and set a public hearing on a general-obligation loan not to exceed $1,450,000.

Council considered Resolution No. 100-5-25 to hire D.A. Davidson & Company as the city's underwriter for the street reconstruction and related general-obligation bonds. Councilmembers said the firm had been used before for similar municipal financing. Oliphant moved to approve hiring the underwriter; council recorded a roll-call vote and approved the motion.

Separately, the council approved Resolution No. 100-4-25 to set the date for a public hearing and additional actions related to entering a general-obligation loan agreement for the street project in a principal amount not to exceed $1,450,000. The resolution initiates the public-notice and hearing process required for the loan. Council members approved moving forward by roll call.

Council members said they view these steps as routine parts of preparing to finance and begin the reconstruction project; the public hearing will provide residents an opportunity to comment on the proposed borrowing.