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Board approves retaining D.A. Davidson to administer defeasance at $2,500 fee
Summary
Board approved retaining D.A. Davidson to administer the defeasance of the 2023 general obligation bond; administrators said the firm would charge $2,500 to set up and administer the account.
Following the defeasance resolution, the board considered retaining D.A. Davidson to administer the defeasance. The administrator explained, "They would charge a fee of $2,500 to set up the account and administer it and do all the paperwork," and described that amount as the district's cost for the service.
The board moved to retain Davidson and approved the fee; the chair called the vote and stated the motion carried. The administration will finalize the contract and report back on completion of the administration tasks.
