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Committee reviews technical changes to bond payment language, underwriter fees and 'haircut' methodology
2162691 · January 29, 2025
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Summary
Members reviewed proposed Treasurer's updates to BAA language that would change a 'shall' to a 'may' and explicitly include underwriter fees in distributions; staff said the changes align statutory text with current practice of using debt-service funds.
The committee reviewed draft language on Jan. 29 containing technical updates requested by the Treasurer that would change a statutory phrasing from "shall" to "may" and include underwriter fees in distributions related to bond issuance costs.
Joint Fiscal Office staff explained the language aligns statute…
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