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Board of Aldermen adopts ordinance engaging Piper Sandler as financial adviser for planned garage bonds
Summary
The Board of Aldermen on Jan. 28 approved Ordinance 7055 to engage Piper Sandler as the city's financial adviser for a proposed special obligation bond sale expected to fund municipal garage renovations.
The Clayton Board of Aldermen adopted Ordinance 7055 on Jan. 28 approving a five‑year engagement agreement with Piper Sandler to serve as the city’s financial adviser and assist with a proposed special obligation bond issuance to renovate the municipal garage.
City Manager Gibson told the board the city expects to issue approximately $13,880,000 in special obligation bonds to fund the municipal garage renovation and that Piper Sandler’s proposed compensation for current services on the anticipated issuance is $60,000. Gibson described the firm’s role in preparing competitive bids, coordinating a bond‑rating call and helping the city present its finances to national rating agencies.
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