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Long Lake hires bond counsel and financial advisor for Jennings Park Pond causeway repair
Summary
The board appointed Orrick, Harrington & Sutcliffe LLP as bond counsel and Fiscal/Financial Advisors & Marketing, Inc. as municipal financial advisor to support debt issuance and capital project setup for repairing the Jennings Park Pond causeway and dam damaged July 10, 2023.
The Town Board adopted resolutions Dec. 18 to retain professional advisors for financing the Jennings Park Pond causeway and dam repair. Orrick, Harrington & Sutcliffe LLP was appointed bond counsel and Fiscal/Financial Advisors & Marketing, Inc. was appointed municipal financial advisor to help create a capital project and meet Office of the State Comptroller rules for debt issuance.
Both actions follow a July 10, 2023 flood event that destroyed the Jennings Park Pond causeway and dam; the board had previously implemented a Jennings Park Revitalization Project. The town attorney solicited proposals and recommended the selected firms. The resolutions authorize the supervisor to execute engagement letters and forward executed agreements to the town attorney and the town clerk for filing.
