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Senate defers bill aimed at curbing 'tie-in' incentives in school bond pool
Summary
Lawmakers debated a bill to apply the state procurement code to bond counsel and underwriters tied to a school finance cooperative; senators raised concerns about quality, retroactivity and contracts. Sponsor agreed to supply the auditor general—s report; the bill was circled for further work.
Senate lawmakers on Jan. 24 debated measures to bar financial "tie-ins" that have limited school districts— choice of bond counsel and underwriters and then set the bill aside for further review.
Senator Michael Stevenson, sponsor of the substitute for Senate Bill 9, told the Senate the bill responds to an audit of a school finance cooperative that had created a pooled fund through arbitrage and, in practice, conditioned access to that money on use of…
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