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Meeting Date:
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12/11/2024 - 7:00 PM
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Category:
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Action Items
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Type:
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Action
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Subject:
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Approval of the Bond Counsel/Disclosure Counsel Engagement Letter between CUSD 200 and Chapman and Cutler LLP
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Vision 2026:
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Operational Excellence Strategies 1 Address facilities projects identified in the Facilities Master Plan.
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Background
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Prior to the issuance of new debt or the refinancing of existing debt, public entities are required to obtain a legal opinion that ensures all relevant Illinois Law and applicable tax regulations arising under the Internal Revenue Code of 1986 are adhered to in the transaction(s).
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File Attachment:
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Summary:
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Chapman & Cutler LLP is a widely recognized law firm that focuses on financial law while representing public institutions that issue new or refinance existing debt. Chapman and Cutler LLP has represented CUSD 200 in past debt transactions. The attached engagement letter allows for Chapman & Cutler LLP to continue serving CUSD 200 in the capacity of Bond Counsel and Disclosure Counsel for future debt issuances related to the approved November 2024 Middle School Capital Project referendum.
This contract has been reviewed by Robbins Schwartz, the Board of Education's representative in contractual matters.
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Funding:
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No funding is required at this time. Fees associated with Chapman & Cutler LLP serving as Bond Counsel and Disclosure Counsel on behalf of the CUSD 200 Board of Education will be determined and agreed upon by both parties before any November 2024 referendum bonds are issued.
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Board Policy
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4:40 Incurring Debt
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Recommendation:
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It is recommended that the Board of Education approve the engagement letter for services as Bond Counsel and Disclosure Counsel with Chapman and Cutler LLP for bonds issued as a result of the approved November 2024 referendum.
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Approvals:
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Recommended By:
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Signed By:
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Brian O'Keeffe - Asst Superintendent Business Services
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Signed By:
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Jeff Schuler - Superintendent
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Vote Results:
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| Original Motion | | Member Brad Paulsen Moved, Member Julie Kulovits seconded to approve the Original motion 'It is recommended that the Board of Education approve the engagement letter for services as Bond Counsel and Disclosure Counsel with Chapman and Cutler LLP for bonds issued as a result of the approved November 2024 referendum.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | Brad Paulsen | Yes | | Rob Hanlon | Yes | | Dave Long | Yes | | Angela Blatner | Yes | | Julie Kulovits | Yes | | Erik Hjerpe | Yes | | John Rutledge | Yes | |
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