City of West Sacramento Selects 1812.io platform to Further Enhance Debt Management Effectiveness
Updated: Oct 31, 2018
October 30, 2018
The City of West Sacramento is proud to announce that it is partnering with Aquorn, Inc. – an innovative technology startup specializing in public debt administration solutions - to set new standards for public transparency, efficiency and to enhance the City’s ability to meet the capital needs of a vibrant and growing community.
Aquorn’s 1812.io platform is an easy-to-use, cloud-based solution for debt administration, compliance reporting, and interfacing with the public and the municipal bond industry. The City of West Sacramento is implementing 1812 to streamline its debt administration and improve engagement with the capital markets. The City can now seamlessly combine the many requirements, deadlines and filings necessary to administer over $250 million in debt which finances critical infrastructure for the City. Prior to leveraging the 1812 platform, the City used a mix of spreadsheets, document storage systems and calendar tools to track these complex obligations. Over time, the 1812 platform will reduce both the burdens on staff and the costs of consultants.
Paul Blumberg, Public Finance Director said, “While we are in the early stages of developing this tool, our goal is that this partnership provides our city government with a means to create more efficient processes, improve market transparency and build public understanding of the importance of debt as a tool to invest in our community. This improved technology will allow us to streamline our management processes, make innovative enhancements, and improve collaboration with both advisors and regulators.”
“We are thrilled to partner with the City of West Sacramento to help modernize its debt administration and reporting processes,” said Aquorn CEO Andrew Flynn. “The city joins a growing number of governments in leveraging innovative new technologies to be more effective. Whether it’s striving for a AAA bond rating or allocating resources to achieve its strategic goals, the city now has the insights it needs to more strategically engage with its capital markets partners, be more transparent, and drive more affordable borrowing for its citizens.”
About West Sacramento, CA West Sacramento, with a population of more than 52,000 residents, is a vibrant riverfront community centrally located in Northern California. It is recognized as an innovation leader in the region and a growing center of commerce, recently emerging as a hub for the food industry and related activities. As one of the fastest-growing cities in the region, West Sacramento is at the center of a multi-modal transportation network allowing access to major metro areas across the Western United States and the Pacific Rim.
About Aquorn, Inc. Aquorn is a technology company created by experienced public finance professionals specifically for public agencies in the United States. Its mission is to power more transparent, efficient and secure government through the application of advanced technology not previously accessed by public agencies. Founded in 2014, Aquorn, Inc. is comprised of finance, banking, investment banking, technology and legal experts from across the country and is headquartered in Pittsburgh, PA.
West Sacramento Contact: Paul Blumberg City of West Sacramento, California 916-617-4572 firstname.lastname@example.org
Aquorn Contact: Tom Joyce Aquorn, Inc. 412-759-6187 email@example.com