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Municipal advisor discloses potential conflicts, registration and client notices to Bridge Creek Board
Summary
Stephen H. McDonald & Associates provided the MSRB G‑42 and G‑10 disclosures, noting two items: fee contingency and affiliated title-holder/lessor entities; the advisor said it would disclose any potential conflicts if discovered.
Stephen H. McDonald & Associates provided the Municipal Securities Rulemaking Board disclosures required of municipal advisors during the special meeting. The firm stated that three of five conflict scenarios did not apply, and addressed two that might: compensation contingent on the size or closing of a transaction and possible use of affiliated title-holder/lessor entities (MR, Inc. and MR-Jenks I, L.L.C.). The disclosure explains the firm "believes any conflict here is negligible at best" regarding contingency compensation and notes the district may appoint another entity as title holder/lessor if it prefers.
The notice also fulfilled Rule G‑10 requirements by confirming the firm is registered with the SEC and MSRB and by pointing the board to MSRB resources, including the municipal advisor client brochure. The minutes quote the advisor: "If we discover any potential conflicts, we will provide full and complete disclosure to you."
