City of Mountain View
Opus Bank’s Public Finance Division Provides $10.1 Million in Wastewater Improvements Financing for the City of Mountain View, CA
Overview of Transaction
- The City of Mountain View (“City”) was incorporated in 1902 and is in the heart of California’s Silicon Valley and home to over 80,000 people.
- The City provides police and fire; water, wastewater and solid waste utilities; street maintenance; parks and recreation; library; planning and zoning; economic development and housing; transportation and engineering; and general administrative services to its residents. It also has a state of the art Performing Arts Center and an 18 hole golf course.
- The City operates a wastewater utility system that services over 18,200 accounts.
Significance of Transaction
Opus Bank (“Opus”) worked with the City staff and its financing team to provide wastewater infrastructure improvements financing for a variety of projects designed to improve, upgrade, and replace sewer lines and mains in the City’s existing wastewater system.
Opus Bank's Role
- Opus offered the City a flexible financing structure that uniquely addressed the project needs and schedule, while providing significant interest cost savings that benefit the customers of the City’s wastewater system.
- The financing was completed on a quick schedule to ensure availability of funds to commence the work.