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Council hires D.A. Davidson as underwriter for Third Avenue and Hayes Street reconstruction project
Summary
The council approved Resolution 100-525 to hire D.A. Davidson & Co. as the city's underwriter for a street reconstruction project and related general obligation bonds.
The Cascade City Council on Oct. 27 approved Resolution 100-525, authorizing the hire of D.A. Davidson & Co. as underwriter for the Third Avenue Southwest and Hayes Street Southwest reconstruction project and related general obligation bonds.
Councilmembers indicated prior experience with the firm and described the step as a standard part of the municipal bond process for capital projects. Councilmember Oliphant made the motion, which passed on roll-call votes with unanimous support from councilmembers present.
The hire authorizes the city to proceed with bond underwriting services for the planned street reconstruction; subsequent steps include setting a public hearing and approving a loan resolution to finance the project.
