WATERTOWN, S.D.(KXLG)- The Codington County Commissioners have authorized the signing of an engagement letter with Baird to serve as the sole managing underwriter for the issuance of General Obligation Bonds for the jail project. The decision was made during their Tuesday meeting, with Toby Morris of Colliers Securities LLC participating remotely to provide information.

The bond issuance is not expected to exceed $ 29.65 million. Baird’s proposed underwriting fee will not exceed $7.97 per $1,000 of bonds issued, and this fee will be detailed in the Purchase Agreement.

The motion to authorize the chair to sign the Letter of Engagement with Baird was made by Commissioner Gabel, seconded by Commissioner McElhany, and passed unanimously.