Financial Advisor Professional Services

The City of Palo Alto is a full-service city located in Santa Clara County. The City provides a broad range of community services, including public safety, transportation, parks and recreation, libraries, and utilities (electric, water, gas, wastewater, refuse, storm drainage, and fiber services). Palo Alto is committed to sustainable infrastructure, long-term fiscal resilience, and strategic investment in the community and utility assets. Palo Alto maintains a diversified portfolio of long-term liabilities across governmental and enterprise functions, supporting a range of capital investments including public facilities, utility infrastructure, and long-term infrastructure improvements. The City's debt instruments include general obligation bonds, certificates of participation, utility and other revenue bonds, and related long-term obligations. As part of its ongoing capital improvement planning, the City has identified the Electric Grid Modernization project and the Cubberley Community Center project as key infrastructure initiatives. The Electric Grid Modernization project is intended to enhance the resilience, reliability, and capacity of the City's electric distribution system to support electrification, clean energy goals, and future load growth. The Cubberley Community Center project is a City Council priority that redevelops the site into a safe, modern, and accessible space for childcare, classes, and youth and adult recreation. The City anticipates that one or more debt issuances may be considered as part of the financing strategy for these projects and potentially other future capital priorities; however, the timing, structure, and authorization of any issuance will be subject to City Council direction and staff planning.