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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 Municipal Advisory Agreement between CUSD 200 and PMA Securities, LLC
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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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Public institutions require financial and advisory assistance when the institution has been authorized to issue new debt or refinance existing debt. A Municipal Advisor performs services that assist public intuitions in developing structure, timing and the overall expected terms of a debt issuance.
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File Attachment:
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Summary:
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PMA Securities, LLC is a widely recognized financial firm that represents many public institutions who issue new or refinance existing debt. PMA Securities, LLC has represented CUSD 200 in past debt transactions. The attached Municipal Advisory Agreement allows for PMA Securities, LLC to continue serving CUSD 200 with the Scope of Services defined in Section I of the agreement. The Scope of Services are related to future debt issuances that would be required
to support 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 PMA Securities, LLC serving as Municipal Advisor on behalf of the CUSD 200 Board of Education will be based on schedule in Section VI of the agreement, which is based on the amount of debt issued, and are paid from the proceeds of the bonds.
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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 Municipal Advisory Agreement between PMA Securities, LLC and CUSD 200 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 John Rutledge Moved, Member Brad Paulsen seconded to approve the Original motion 'It is recommended that the Board of Education approve the Municipal Advisory Agreement between PMA Securities, LLC and CUSD 200 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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