Public Meeting Agenda: August 15, 2022 at 6:00 PM - Regular Meeting

1. Call to Order

2. Prayer and Pledge of Allegiance

3. Public Forum

4. Reports from Administrators

4.1. Superintendent's Comments

5. Employee Handbook 2022-23

6. Deliquent Tax Report

7. Budget Workshop #3

8. Report From District Facility Planning Committee

9. Regular Action Agenda

9.1. Approve Hiring Norton Rose Fulbright as Bond Counsel

10. Executive Session
This closed session will be held in accordance with Section 551.001-551.084 of the Texas Government Code. (The Open Meetings Act) Should final vote be required with regard to any action, final decisions or vote will be taken in public open meeting.
**551.071, 551.074, 551.082, and 551.0821

This closed session will be held in accordance with Sections 5512-001 and 551.084 of the Texas Government Code (The Open Meetings Act). Should a final vote be required with regard to any action, final decision, or vote, such shall be taken in public open meeting.
* Consultation with Legal Counsel (551.071) on matters related to a bond election

11. Regular Action Agenda

11.1. 1. CONSIDERATION AND APPROVAL OF A RESOLUTION APPROVING AN ENGAGEMENT AGREEMENT FOR BOND COUNSEL LEGAL SERVICES WITH NORTON ROSE FULBRIGHT US LLP; AND OTHER MATTERS IN CONNECTION THEREWITH

Newton Independent School District (the “District”) intends to engage Norton Rose Fulbright US LLP to provide the District with bond counsel legal services pertaining to the District’s issuance of public securities, including advising the District on its “official statement” to potential investors pursuant to Federal securities law and issuing a legal opinion as to the same.
Norton Rose Fulbright US LLP has consistently demonstrated its competence, qualifications, and experience as an industry leader in public finance matters through the provision of bond counsel legal services, the representation of local governments on federal income tax matters, the publication of disclosure policies and the representation of state agencies and political subdivisions within the State of Texas on public finance matters.
Accessing the public markets through the issuance of public securities and providing an “official statement” of the District to potential investors is governed by Federal securities law requires the advice of legal advisors that specialize in public finance matters and are well versed in Federal securities law.
Engaging an attorney in private practice who specializes in public finance matters and is well versed in all aspects of public finance matters (including state law, federal income tax law and federal securities law) pursuant to an hourly fee arrangement would likely result in higher fees paid by the District and such fees incurred would be payable by the District through amounts in the District’s General Fund, whether or not the public securities is issued.
Fees for professional services in public finance matters, including bond counsel services, have traditionally been paid pursuant to a contingent fee contract, where such fees become payable only upon the successful issuance of the public securities and out of the public securities proceeds. Entering into a contract for bond counsel legal services with Norton Rose Fulbright US LLP (a firm that specializes in public finance matters and is well versed in Federal tax and securities law) payment of which is contingent on the District’s successful issuance of public securities and payable out of public securities proceeds, provides the District a superior level of bond counsel legal services and fee(s) payable under the contract is reasonable in the public finance market and would likely be less than if such services were conducted pursuant to an hourly rate contract with an attorney specializing in public finance matters. This high level of bond counsel legal services pursuant to a contingent fee contract is in the best interest of the District.

CONSIDERATION AND APPROVAL OF AN ORDER CALLING A BOND ELECTION TO BE HELD BY THE NEWTON INDEPENDENT SCHOOL DISTRICT, MAKING PROVISION FOR THE CONDUCT OF THE ELECTION, AND RESOLVING OTHER MATTERS INCIDENT AND RELATED TO SUCH ELECTION

12. Executive Session
This closed session will be held in accordance with Section 551.001-551.084 of the Texas Government Code. (The Open Meetings Act) Should final vote be required with regard to any action, final decisions or vote will be taken in public open meeting.
**551.071, 551.074, 551.082, and 551.0821

This closed session will be held in accordance with Sections 5512-001 and 551.084 of the Texas Government Code (The Open Meetings Act). Should a final vote be required with regard to any action, final decision, or vote, such shall be taken in public open meeting.
* Consultation with Legal Counsel (551.071) on matters related to a bond election

12.1. Resignations

12.2. Contracts

August 15, 2022 at 6:00 PM - Regular Meeting

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