Public Finance in Florida

Having familiarity with our holistic approach, creativity, and problem solving skills, the City of Lake Worth Beach engaged Davenport to assist with a financial workout of its Electric Utility, which led to a new “A” rated credit structure.

Case Study: City of Lake Worth Beach, FL

Based on prior experience with Davenport’s holistic approach, creativity, and problem solving skills, the City of Lake Worth Beach engaged the firm in 2019 to assist with a financial workout of its Electric Utility. The City’s electric system suffered from decades of deferred maintenance, resulting in a lack of reliability and financial deterioration. Davenport developed a plan of finance to restructure the City’s existing unrated revenue bonds under a new master resolution using a combined revenue pledge that included water, local sewer, and electric revenues. In doing so Davenport partnered with Stantec – a nationally recognized consulting engineer – to develop a comprehensive Plan of Finance and multi-year financial plan for the combined utility credit. The new credit structure earned an A-category rating for its inaugural issuance, allowing the City to restructure its debt and infuse the electric system with $45 million of new money to jumpstart the modernization of the distribution grid. Davenport also successfully helped develop a second new credit structure – primarily for general government projects – to help diversify its capital funding resources. Davenport is also assisting the City in updating its out of date financial policy guidelines.

Public Finance Services

Davenport Public Finance assists our clients with a comprehensive range of services.

  • Strategic Financial Planning

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  • Transaction Services

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  • Investment Management

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  • Rating Agency Interaction

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  • Economic Development

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  • State Credits and Financing Programs

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  • Strategic Consulting Services

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Our Philosophy

Pro-Active · Holistic · Team Oriented · Fiduciary

We emphasize working with our clients at the beginning of the planning process through the use of comprehensive modeling and analytics.

Davenport has consistently ranked in the top 10 Financial Advisors in the nation for competitive transactions.*
*Source: Refinitiv, formerly Thomson Reuters.

Brief Overview

  • $21.5B

    Volume since 2014
  • 400+

    Transactions since 2014
  • 500+

    Clients served
  • 30+

    Professional Team Members

Meet Our Team

Davenport's 30+ professionals have extensive experience and backgrounds that include bond law, senior credit rating analysts and accounting.

Davenport has consistently ranked in the top 10 Financial Advisors in the nation for competitive transactions.

Public Finance

With a commitment to helping our clients grow, we have developed one of the largest, regional public finance practices in the Mid-Atlantic/Southeast.*

*In terms of number of transactions and volume in MD, VA, NC, SC and GA. Source: Refinitiv, formerly Thomson Reuters.

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