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Capital Area PFD authorizes Foster Garvey to review Hands On Children’s Museum financing agreement
Summary
The Capital Area Regional Public Facilities District authorized a contract with law firm Foster Garvey to review Resolution 25-01 and its attached financing agreement for the Hands On Children’s Museum expansion. The firm will cap fees at $5,000 and the district says the cost will come from project funds; one board member abstained.
The Capital Area Regional Public Facilities District voted to authorize a contract with law firm Foster Garvey to review Resolution 25-01 and the attached financing agreement (Exhibit A) related to the Hands On Children’s Museum expansion. The board approved the contract after discussion; one member, David McCandry, recorded an abstention.
Board members and staff said the review is intended to protect the district and its individual board members from liability arising from the proposed bond financing, and not to provide a broad legal opinion on the merits of the underlying financing. A Foster Garvey representative told the board the firm “would charge hourly, but we would cap the fee” and that the cap offered for the limited review is $5,000.
The motion before the board authorized the district to enter an…
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