Board selects Raymond James as district bond underwriter
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Summary
After issuing an RFQ, the board chose Raymond James to serve as the district's bond underwriter, replacing Stifel following staff concerns about continuity; the selection was approved unanimously.
District staff reported that Stifel — the district's prior underwriter — underwent staff changes that reduced local support. After issuing a request for qualifications and evaluating four respondents, the district recommended Raymond James as the new bond underwriter.
The administration said the selection was based on experience, marketing capability and fee structure; the underwriter helps place general obligation bonds or certificates of participation in the market and can affect interest rates and borrowing costs. A motion to approve Raymond James was made, seconded and approved unanimously.
Board members thanked staff for the review and selection process.