Consider and possible action to approve a resolution retaining the law firms of Powell Law Group, LLP (“PLG”) and FBT Gibbons, LLP (“FBT”), (collectively “Co-Bond Counsel”) to provide specialized legal services in connection with the issuance of public securities by the District; finding that PLG and FBT are competent and experienced in handling such issuances of public securities, having handled

Staff Report & Agenda Item Details

4.3. Consider and possible action to approve a resolution retaining the law firms of Powell Law Group, LLP (“PLG”) and FBT Gibbons, LLP (“FBT”), (collectively “Co-Bond Counsel”) to provide specialized legal services in connection with the issuance of public securities by the District; finding that PLG and FBT are competent and experienced in handling such issuances of public securities, having handled such matters for more than a decade in the State of Texas; finding that: (i) such legal services require specialized expertise and experience in state and federal laws governing the issuance of public securities and therefore cannot be adequately performed by the attorneys and supporting personnel of the District; (ii) such legal services cannot be reasonably obtained from attorneys in private practice under a contract providing for the payment of hourly fees without contingency because the District will not be obligated to pay any legal fees unless the public securities are approved and actually issued; and (iii) entering into a contingent fee contract with PLG and FBT to serve as Co-Bond Counsel is in the best interests of the residents of the District because PLG and FBT will only be paid in the event that the public securities are actually issued; and all matters related thereto.

This motion is scored as RESTRAINS_GOVERNMENT (Impact Weight: 8.5/10). Under the Bastiat Liberty Watchdog Index, voting YES on measures that cap or reduce ad valorem tax burdens, expand taxpayer exemptions, retire debt early, enforce competitive bidding caps, or remove regulatory/zoning barriers to private property rights earns a positive Pro-Liberty score.