Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
District staff present three bond-underwriter proposals; board to vet rates and capacity
Summary
District staff presented three bond underwriter proposals and a comparison sheet showing differing rates and underwriting capacity; no selection was made at the meeting.
The Lamar County School District received presentations from three bond underwriters and reviewed a side-by-side comparison of their proposals, district staff said during the meeting.
Jennifer Meshey presented the packet of proposals and a comparison sheet that listed pricing (discounts/rates) and other terms. Meshey and staff cautioned the board that price is only one factor; underwriter capacity and market access also matter. Staff noted two firms showed multi-billion-dollar bonding capacity while one firm had a lower capacity and a higher stated rate.
Meshey said staff contacted representatives to clarify capacity and pricing and indicated additional follow-up would be needed before the board chose an underwriter. No final selection or vote was recorded during the meeting.
Board members asked questions about market strategies, pricing and whether an underwriter could market different structures of bonds; staff said those options would be clarified as the district completes its underwriting review. The district’s bond attorney was present and available to advise on selection and structure, staff said.
