Lake County FPD: $3,836,000 Financing Lease Agreement for Pension Refunding

The Deal:

‍Ridgeline Municipal Strategies, LLC served as a municipal advisor to the Lake County Fire Protection District on recent issuance of the District's $3,836,000 Financing Lease Agreement - Taxable Pension Liability Refunding (2022), privately placed as a bank loan.

The Scope:

Ridgeline provided the following services to the District:

• Comprehensive pension liability assessment
• Pension cost optimization strategy
• Pension liability management policy
• Lease financing to refund a portion of unfunded accrued liability

The Outcome:

Ridgeline helped the District develop and implement a comprehensive pension cost optimization strategy and a pension liability management policy. A portion of the Unfunded Accrued Liability with CalPERS was refunded through issuance of a taxable lease agreement to achieve cash flow savings. The lease agreement was privately placed as a bank loan. The Project allows for greater fiscal resiliency of the District and better utilization of taxpayer funds.

Ridgeline Municipal Strategies, LLC is an independent registered municipal advisory and financial consulting firm.

Contact Ridgeline to discuss your financing and pension cost optimization needs.

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