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Claude ISD approves engagement with bond counsel and defeasance resolution
Summary
The board approved an engagement letter with Leon Alcala, PLLC to serve as bond counsel and adopted a resolution expressing intent to defease and redeem certain outstanding bonds; actions recorded with unanimous trustee votes.
Trustees voted to approve an engagement letter with Leon Alcala, PLLC to serve as bond counsel, stating the firm has substantial experience and that a contingency fee arrangement means the district pays nothing unless a transaction is completed. Trustee Ryan moved the engagement and Trustee Johnny seconded; the motion passed 6–0.
The board also adopted a resolution expressing intent to defease and redeem certain outstanding bonds (motion by Ryan, seconded by Jessica), which the minutes record as passing 6–0. The minutes include the board’s findings that bond-counsel services are specialized and that the district will pursue defeasance and redemption options; specific bond series and dollar amounts were not listed in the minutes.
