The Wright City R-II School Board of Education recently approved a bond underwriting company at their Oct. 24 meeting.
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The Wright City R-II School Board of Education recently approved a bond underwriting company at their Oct. 24 meeting.
Earlier this month, the district interviewed many companies and sent out requests for proposals. After analyzing numerous companies, the board voted unanimously to make Piper Sandler and Co the district’s bond underwriter.
A bond underwriter will essentially look at the district’s finances and act as a middle man to ensure success between a bond issuer and investor.
R-II Superintendent Dr. Amy Salvo expressed to the board that the district is experiencing some growth and with those factors, she wants to ensure the district is set up for financial success.
Salvo went on to tell the board that Piper Sandler and Co is a company with an ample amount of knowledge and works with districts such as Francis Howell, Parkway, Lee's Summit and more.
It was also said the fee structure will be less than what is already paid with the district’s current company.
“They’re recommended due to their vast knowledge of their financing team, which was one of the things that set them apart,” Dr. Salvo told the board. “Also, their partnership is very collaborative with districts.”
Now that the board has approved a bond underwriter, the tentative plan is to start work with Piper Sandler and Co and run numbers to look at the district’s bonding capacity, while remaining transparent with the community.
