FOR IMMEDIATE RELEASE
November 18, 2024
City of Kenmore Communications
communications@kenmorewa.gov
425-398-8900

City of Kenmore to issue Tax Exempt Bonds – Local Kenmore residents have opportunity to invest in the City

Kenmore, WA - Late last year the Kenmore City Council authorized the issuance of approximately $12 million of Limited Tax General Obligation Bonds. The bonds will be marketed in late November by D.A. Davidson & Company in Seattle, who is serving as bond underwriter for the transaction. The City will use the proceeds to finance and/or reimburse itself for the costs of the new Public Works Operations Center.

Melinda Merrell, the city’s Finance Director, said “We are excited to complete this financing and open the Public Works Operations Center in 2026. After nearly 20 years contracting public works maintenance service with the City of Lake Forest Park, the two cities parted ways in 2018. Kenmore public works began operating in two temporary locations, but these locations are now too small and do not adequately service our needs, so we embarked on developing a permanent site.”

The City plans to provide interested residents with an opportunity to “invest in the city” by purchasing some of the tax-exempt bonds. The offering is made only by the Official Statement, which is available through the underwriter and the City. The interest rates are expected to be finalized late November.

If you have an interest in learning more about the bonds or would like to receive the Preliminary Official Statement, email or call Kenmore Finance Director Melinda Merrell at mmerrell@kenmorewa.gov or 425-398-8900 ext. 6190. Any inquiries are encouraged before November 21, 2024 .

See more City of Kenmore news: kenmorewa.gov/news

Si gusta communicarse con la ciudad de Kenmore o revisar un documento en otro idioma, envíe su solicitud con su información de contacto a cityhall@kenmorewa.gov o llame al 425-398-8900.