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Board approves attorney fee agreement for 2026 bond project
Summary
The board approved a written attorney fee agreement for an upcoming 2026 bond issue; the presenter said the work would likely total about $11,000 but the attorney agreed to cap fees at approximately $10,150, and the board approved the agreement by voice vote.
The Wabash City Board of Public Works and Safety approved an attorney fee agreement related to an upcoming bond issue at its April 27 meeting.
A staff speaker explained the town had a written fee agreement dating from earlier in the administration covering bond-related work. The presenter said financial advisors requested a written fee agreement for the bond; the speaker estimated the legal work could amount to roughly $11,000 but said the attorney agreed to a flat fee cap. During the discussion the speaker referenced figures in succession, saying the fee would be "somewhere close to 11,000, but I've agreed to limit it to a flat fee of 10,500," then acknowledging variants and settling on about $10,150 as the cap recorded during the discussion.
A motion to approve the attorney-client agreement for the 2026 bond proceeds was made, seconded and approved by voice vote. Board members signed the agreement before adjourning.
Why it matters: having a written, locally approved fee agreement is a routine but necessary step for the city to proceed with municipal bond financing; the flat-fee cap provides budget clarity for bond issuance legal costs.
What's next: The bond process will continue with financial advisors and counsel under the terms of the approved fee agreement.
