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Financial advisers recommend revenue bonds through Public Facilities Authority for Dodge County courthouse project
Summary
Davenport Public Finance advisors told the county board on May 18 that issuing revenue bonds through the Public Facilities Authority is a recommended option to fund the courthouse project; they said public-market issuance can yield lower interest rates but usually carries higher upfront issuance costs than a direct bank loan.
Financial advisers Doug Gebhardt and Ricardo Cornejo of Davenport Public Finance presented options for funding the Dodge County courthouse project at the May 18 work session. They recommended issuing revenue bonds through the Public Facilities Authority and described the trade-offs between a direct bank loan and a public market issuance.
Advisers said the public market can offer better interest rates over the life of bonds but typically requires higher upfront issuance costs. A direct bank loan can limit issuance expenses but may result in higher ongoing interest costs. The presentation was advisory in nature; the board recorded the options but did not adopt a financing method during the session.
The advisers' recommendation gives the county a defined path to explore in subsequent decision-making steps, including work on timing, structure and estimated issuance costs if the board directs staff to proceed.
