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Laredo ISD board votes to end long-standing advisory contract with Estrada Hinojosa and solicit new municipal-advisor proposals
Summary
Trustees voted 4–3 to direct staff to terminate the district’s municipal-advisory agreement with Estrada Hinojosa & Co.; the board also approved soliciting proposals for municipal-advisory services. The move prompted several trustees to cite process and timing concerns and a divided board debate.
The Laredo ISD Board of Trustees voted 4–3 on Feb. 13 to direct staff to terminate the district’s financial-advisory agreement with Estrada Hinojosa & Co., a firm that trustees and staff said has advised the district on debt and refunding operations for many years. The board immediately authorized staff to solicit request-for-proposal responses from municipal advisers.
Trustees said the decision followed concerns about procurement and the board’s need to re-evaluate long-term advisory services. "By procuring, anyone who is interested in becoming a municipal advisor will respond to the bid document," district procurement staff explained when the board approved the RFP method; staff added the district could…
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