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Board approves bond counsel agreement with Stradling Yocca Carlson & Rauth LLP
Summary
The Redondo Beach Unified School District board approved retaining Stradling Yocca Carlson & Rauth LLP as bond counsel for potential general obligation bond work; the agreement will be payable only if a bond measure passes. Vote: 4–1.
The Redondo Beach Unified School District board voted to approve a bond counsel agreement with Stradling Yocca Carlson & Rauth LLP to prepare bond resolutions and serve as bond counsel for any general obligation bond issuances that may result from a future November measure. The motion passed 4–1; the student advisory vote was recorded as aye.
Staff member Doctor Alburn told the board the firm would prepare the paperwork for the district’s previously adopted resolution and would handle legal documentation required when bonds are sold or refunded. "They would also then serve as well for any bond issuances that may result from, from the November," Doctor Alburn said, noting there is a fee for preparing the resolution and the district would only pay the firm if the measure passes.
Board members moved and seconded the item and discussed timing and costs briefly; no detailed fee schedule was presented during the discussion. Chair called for the student advisory vote, and the motion was approved 4–1.
The approval allows the district to use Stradling Yocca Carlson & Rauth LLP as bond counsel should the board later place or win a local bond measure; any payment to the firm will be contingent on the passage of that measure and subsequent bond activity. The board did not adopt bond sale documents today and will return to formal bond approvals only if and when a bond measure proceeds.
