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Parowan picks Crews and Associates as municipal advisor after 3–2 vote
Summary
After reviewing three proposals, the Council voted 3–2 to select Crews and Associates as municipal advisor, citing lower flat fees for anticipated near-term bond work; staff were authorized to execute the engagement to meet an upcoming CIB deadline.
Dan Jessen presented three municipal-advisor proposals submitted in response to the City’s request: Crews and Associates, Zions Bank Public Finance, and LRB Public Finance Advisors. He recused himself from recommending a firm due to personal relationships with principals at two firms.
Council debate focused on cost and regional experience. Crews proposed fees at $1.25 per $1,000 of bond proceeds (0.125%) with a $7,500 minimum and a flat $7,500 fee for state financing agency bonds (such as CIB). Zions proposed $2.00 per $1,000 (0.2%) with a $10,000 minimum. Councilmember Rochell Topham emphasized regional experience and placed LRB third; Councilmember David Burton favored Crews on cost grounds.
The final motion to approve Crews and Associates carried 3–2 (David Burton, Lyle Barton and Mayor Mollie Halterman in favor; Rochell Topham and David Harris opposed). The Council authorized staff to execute the engagement without returning for an additional vote in order to meet the Community Impact Board (CIB) application timeline.
