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Committee authorizes engagement of Del Rio and Stradling to support funding strategy (no bonds planned now)
Summary
Staff recommended engaging municipal adviser Del Rio and bond counsel Stradling to support funding and modeling for targeted fee-related projects; staff emphasized the work covers SRF/WIFIA/USDA and interim financing options and said the district is not pursuing bonds at this time.
Staff recommended the committee authorize formal engagements with municipal adviser Del Rio and bond counsel Stradling to help craft a funding strategy for upcoming fee-related projects. Staff said the two firms have been meeting with district staff and assisting with financial modeling; the engagement letters would outline services related to SRF, WIFIA, USDA or interim financing as needed.
A member clarified that the district is not currently pursuing bond issuance; staff said the engagements would secure advisory and legal services in advance of any formal financing steps. The committee seconded the recommendation and signaled support to move forward with the engagements.
