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Board approves contingent-fee engagement of co-bond counsel Walsh Gallegos and Cantu Harden Montoya
Summary
Trustees adopted a resolution to engage Walsh Gallegos Kyle Robinson & Roalson, P.C. and Cantu Harden Montoya LLP as co-bond counsel and co-disclosure counsel on a contingent-fee basis, citing counsel expertise and cost advantages over hourly billing.
The Anderson-Shiro CISD Board of Trustees approved a resolution on Aug. 13, 2024 to engage Walsh Gallegos Kyle Robinson & Roalson, P.C. and Cantu Harden Montoya LLP as co-bond counsel and co-disclosure counsel. The minutes record seven findings supporting the selection, including the firms' experience in public finance, familiarity with federal securities requirements, and that contingent-fee arrangements make fees payable only from bond proceeds rather than the general fund.
"Motion was made by Hope Bay and seconded by Brandon Novosad to approve a contingent fee engagement agreement for co-bond counsel and co-disclosure counsel legal services with Walsh Gallegos Kyle Robinson & Roalson, P.C. and Cantu Harden Montoya LLP and adopt the Resolution as presented. Motion carried 7 to 0," the minutes state. The record describes the engagement as contingent on successful issuance of public securities and payable from bond proceeds; precise fee schedules or fee caps are not included in the minutes.
