Arkansas side to discuss switching companies to refund revenue bonds

Texarkana, Ark., is considering using another company than it has in the past to refund the Franchise Fee Secured Capital Improvement Revenue Bonds, Series 2010, according to the agenda posted on the city’s Website.

They will consider this item during their meeting at 6:30 p.m. Monday at City Hall at East Third and Walnut streets. The meeting is open to the public.

“At the end of the day, we need to make a decision that is good for Texarkana,” said Dr. Kenny Haskin, acting city manager. “We need to find ways to save, and from our vantage point, this is how we see it.”

According to the agenda summary, the estimated savings of contracting with Crews and Associates in order to refund the Franchise Fee Secured Capital Improvement Revenue Bonds, Series 2010 is about $689,00 over the life of the bond.

“After careful review of these proposals, staff recommends selecting Crews and Associates to perform the refunding of the Franchise Fee Secured Capital Improvement Revenue Bonds, Series 2010,” the summary states.

According to the summary, selection was based on the firm’s expertise, qualifications, timeline, fee schedule and references.

The city has used Stephen’s Inc. primarily in the past, but has determined it would cost more to continue working with them this time.

In other business, Finance Director TyRhonda Henderson will make a presentation regarding the city budget process which generally kicks off in June. Also, there will be a presentation by John and Julie Ray Harrison regarding Run the Line Marathon Half Marathon.

bbell@texarkanagazette.com