Recently Keith Stamm voted "no" to a Bond Swap arrangement approved by the rest of the school board. Our Bond Counsel (Mike Setley) told us it was a role of the dice for us. Personally I feel better being a little more cautious.
The fees listed below were given to us after the swap was approved. I'm curious if the board would have been against me if they would have seen these fees before the vote......
Legal Fee to Stevens and Lee as bond counsel $50,000
A fee to Investment Management Advisory Group $150,000
Also a fee to CONCORD PUBLIC FINANCIAL ADVISORS $150,000
More Legal fees to John Bradley ESQ. $25,000
John Stott ESQ. $10,000
For Swap Monitoring Services to DerivActiv $15,000
And an upfront fee to the Reading School District of $8,000 for a Grand Total of $408,000 DOLLARS
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