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Executive director: bond candidate list under evaluation, finance directors to review package
Summary
Authority staff reported they are assembling due diligence and counsel input on a list of bond candidate projects; next steps include sharing a proposed package with finance directors for discussion.
Authority staff reported progress on a bond evaluation process and said they are working with legal counsel, bond counsel and financial advisers to assemble a proper package of bond candidate projects for review.
The executive director told members that staff and the TAC have developed a list of candidate projects and that the next step is for finance directors from each locality to get together to discuss fiscal outlooks and the proposed package. Staff emphasized doing due diligence before presenting a package so local finance directors will have information sufficient to support meaningful discussion.
Staff said the team will work over the next two to three weeks to complete the homework with counsel and advisers and then circle back with bond counsel before sharing the package with finance directors and other stakeholders. No bond issuance or final recommendation was made at this meeting; the report was an informational update on process and schedule.
