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Commission authorizes engagement letter with Baird for underwriting services on jail bonds
Summary
The county engaged Baird as underwriter for planned jail project bonds and approved an engagement letter with a fee of $7.97 per $1,000 bond; county adviser said design and bidding are progressing with a two-phase bid approach and potential July ground-breaking.
Codington County commissioners on May 13 authorized the chair to sign an engagement letter with Baird to underwrite bonds for the county jail project, moving the financing process forward.
Toby (municipal adviser) advised the commission that engaging a larger underwriter like Baird provides market coverage and syndication capacity. He…
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