Jasper County secures bond counsel engagement agreement

Now that Jasper County has the vote of the people and a municipal advisor secured for its $3.6 million bond, supervisors on March 30 voted in favor of using a law firm to handle the legal side of things.

A bond counsel engagement agreement was approved with the county retaining the Ahlers & Cooney, P.C. law firm for employee issues, bonding issues and “all sorts of things,” Jasper County Auditor Dennis Parrott said.

“This is just an engagement letter saying the board will approve them to handle the legal part of our bonding issues,” he added. “Again, just to refresh your memory, Jon Burmeister is handling the financial part. And you need both.”

Prior to the bond’s approval in a special election where 64 percent of voters were in favor, the supervisors were given an update by Burmeister, the county’s municipal advisor. Burmester said there were “lot of positives” to take away.

The bond is being used to finance the construction of new administration offices. The renovations of the building — which was formerly occupied by the NewCare Health Services clinic — are estimated to cost $3.7 million.

Per the engagement agreement, the bond counsel is subject to complete the proceedings and execution of documents and render legal opinion regarding the validity and enforceability of the bonds, among other things.

Ahlers & Cooney will also prepare and review documents necessary or appropriate for the election upon issuance and delivery of the bonds, and coordinate the authorization and execution of these documents.

All legal issues relating to the structure of the bond issue will be reviewed by Ahlers & Cooney, as well.

According to county documents, the law firm will charge a flat fee for each issue of bonds for which counsel services are rendered under the agreement. Currently, the bond counsel fee is $14,500.

In addition to the flat fees, Ahlers & Cooney will charge for any incidental costs such as copies, overnight charges, bond printing, travel reimbursement, deliveries, etc. at actual costs incurred.

Ahlers & Cooney estimate these fees will not exceed $750 per issue of bonds.

Contact Christopher Braunschweig at 641-792-3121 ext. 6560 or cbraunschweig@newtondailynews.com