City of Black River Falls | Jackson County, Wisconsin | $2,690,000 Electric System Revenue Bonds, Series 2020A 


In November 2020, Black River Falls, WI issued tax-exempt bonds to provide funds for the public purpose of financing improvements and extensions to the city’s electric system. Bernardi Securities was proud to serve as the sole underwriter of the bond issue. The bonds are payable only from and secured by a pledge of income and revenue to be derived from the operation of the electric system.

The City owns and operates the Electric System consisting of a gated spillway, a low-flow hydro generator, four substations and a distribution plant for its service area which includes the City and the Townships of Adams, Albion, and Brockway. The City purchases most of its power and energy requirements from WPPI Energy under a contract that expires in 2055.

As a member of WPPI Energy the city has access to a portfolio of renewable energy resources. These include electricity generated by wind farms in Dodge County in Wisconsin; Jefferson Solar in Jefferson, Wisconsin; small solar projects at customer locations in Wisconsin and Iowa; and a biogas facility in Wisconsin’s Fox Valley.[1] The City purchases approximately 89% of its electricity requirements pursuant to this contract and generates the remaining 11%. The Electric System’s physical plant consists of a hydroelectric plant, a hydroelectric dam, three generating turbines and three substations.

Bernardi is happy to support the local community and assist in value-add projects for Black River Falls residents.

To access the preliminary official statement, please visit link below.



[1] Source: