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Commission to hire compliance service for bond disclosures; fee to be paid from bond proceeds

July 25, 2025 | Crawford County, Kansas


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Commission to hire compliance service for bond disclosures; fee to be paid from bond proceeds
Crawford County commissioners reviewed and moved to authorize a disclosure‑compliance consultant to maintain SEC‑required bond documentation on a compliance website, with the consulting fee to be paid from bond proceeds.

A county staff member explained the county’s underwriters and counsel requested a consultant because the Securities and Exchange Commission is taking a more active approach to municipal disclosure. The staff member said Gilmore & Bell, the bond counsel used on prior transactions, proposed a compliance service with a fee of $1,750 per year and that the fee would be folded into proceeds or paid by the hospital district that benefits from the bond.

The discussion cited an upcoming refunding bond expected to be documented around Aug. 5 and noted that the county’s outstanding obligations currently include hospital district bonds and rural development sewer debt, not a county general‑obligation bond.

A motion to proceed with the consultant engagement was made and seconded during the meeting; commissioners indicated support. The county recorded that the fee would be included in the bond transaction and that Gilmore & Bell would host audit, budget and financial forms on the compliance database required by the SEC.

No specific formal roll‑call vote was transcribed; the fee amount and payment mechanism were described on the record.

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Scribe from Workplace AI
Scribe from Workplace AI