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Syracuse City JACB kicks off Phase 3; board approves startup payment and law‑firm retention
Summary
Syracuse City’s JACB board opened Phase 3 of its school building program, approved a startup payment to the program manager, authorized retention of Bond, Shank & King as bond counsel paid from bond proceeds, and acknowledged Raymond James’ dual role as underwriter and municipal advisor under SEC rules.
The Syracuse City JACB board opened Phase 3 of its school infrastructure program and approved several administrative steps to move design and financing work forward, including a startup payment to the program manager and retention of outside bond counsel.
The board accepted March minutes by voice vote and then approved Resolution No. 3 to pay the program manager for startup work. Joe (Secretary) told the board the packet included a detailed invoice for the work. "There is a detailed invoice enclosed with your packet," he said. The board carried the motion by voice vote.
The board also approved Resolution No. 4 to retain the law firm Bond, Shank & King, with the city contributing the firm’s fees from bond proceeds. Joe said the firm will bring back Seiler Engineering under its umbrella and estimated Seiler’s work at about $17,000. Joe said Mr. Gall, who worked on earlier phases, has returned in an advisory role and Andy Brobeck will serve as the principal lead on the project.
Separately the board voted to acknowledge that Raymond James will serve in a dual capacity as bond underwriter and municipal advisor, a disclosure the secretary said the Securities and Exchange Commission requires. "The SEC rules require…
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