Agenda

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County Administrator's Report 16. 7.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	04/06/2017
Issue: Renewal of Agreement for Financial Advisor - PD 12-13.017
From:	Amy Lovoy
Department:	Asst County Administrator
CAO Approval:

RECOMMENDATION:

Recommendation Concerning the Extension to the Agreement for Financial Advisor, PD 12-13.017 - Amy Lovoy, Assistant County Administrator

That the Board approve the final 12-month extension of the Agreement for Financial Advisor, PD 12-13.017, to First Southwest Company, effective March 21, 2017, per the terms of the Agreement for the performance of financial advisory services with no change in the fee structure approved on March 21, 2013:

First $10 million dollars of debt issuance - $1.25 per $1,000
Amounts over $10 million - $0.75 per $1,000
Minimum fee - $15,000

BACKGROUND:

The Agreement for Financial Advisor per PD 12-13.017 with First Southwest Company as the low cost proposal was approved by the Board on March 21, 2013. The Board approved the first 12-month extension on May 5, 2016. This extension represents the final renewal allowed under the current Agreement, and requests for proposals (RFPs) will be solicited next fiscal year for this service. Staff is currently halfway through the bond issue for the construction of the new jail, and would need this finalized before potentially changing service providers.

BUDGETARY IMPACT:

None. The fees are built into the cost of issuing or refinancing any debt.

LEGAL CONSIDERATIONS/SIGN-OFF:

The Agreement was prepared and approved as to form and legal sufficiency by Assistant County Attorney Kristin Hual.

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

N/A

IMPLEMENTATION/COORDINATION:

N/A

Attachments
Financial Advisor Agreement
BCC Approval of Original Agreement