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Committee endorses firm to help Tumwater issue bond for operations and maintenance facility

Tumwater, WALocal News

Tumwater's Budget and Finance Committee endorsed D. A. Davidson to provide bond underwriting services for a new operations and maintenance facility. This facility aims to replace the current inadequate site behind City Hall with a seven-building campus on the Trails End Arena property. City Finance Director Troy Niemeyer explained that the letter approved by the committee signals intent without committing to issue bonds.

The city has been planning this relocation since 2010, having selected the Trails End Arena site in 2014 while addressing community and environmental concerns. The committee evaluated two qualified firms, ultimately choosing D. A. Davidson, which has provided financing services since 1991. The approval letter will be on the city council's consent agenda for its June 3 meeting.

Following council approval, the firm will develop financing proposals for the project. The city also plans to issue a bond for a water storage project.

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