Agenda

Back to Calendar Return

County Administrator's Report 12. 25.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	05/05/2016
Issue: PD12-13.017 Agreement for Financial Services 12 month extension
From:	Claudia Simmons
Department:	Asst County Administrator
CAO Approval:

RECOMMENDATION:

Recommendation Concerning an Extension for Financial Advisory Services - Claudia Simmons, Purchasing Manager, Office of Purchasing

That the Board approve the extension of the Agreement for Financial Advisor, PD 12-13.017, to First Southwest Company, for a period of 12 months, effective March 21, 2016, per the terms of the Agreement for the performance of financial advisory services with no change in the fee structure as approved on March 21, 2013, per the following:

First $10 million dollars of debt issuance - $1.25 per $1,000
Amounts over $10 million - $.75 per $1,000
Minimum Fee - $15,000

BACKGROUND:

The Request for Proposals PD12-13.017 for Financial Advisor to the Board of Commissioners was advertised in the Pensacola News Journal on January 21, 2013. Two proposals were received on February 21, 2013. The Review/Selection Committee met on March 5, 2013 and selected First Southwest Company, the low cost proposer and the current provider for the award. The agreement was approved at the regular meeting of the Board of Commissioners on March 21, 2013.

BUDGETARY IMPACT:

The fees will be built in to the cost of issuing or refinancing any debt.

LEGAL CONSIDERATIONS/SIGN-OFF:

Assistant County Attorney Kristin Hual prepared the agreement.

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

This recommendation is in compliance with Escambia County Code of Ordinances Chapter 46, Article II, Purchases and Contracts.The Request for Proposals PD12-13.017 for Financial Advisor to the Board of Commissioners was advertised in the Pensacola News Journal on January 21, 2013. Two proposals were received on February 21, 2013. The Review/Selection Committee met on March 5, 2013 and selected First Southwest Company, the low cost proposer and the current provider for the award.

IMPLEMENTATION/COORDINATION:

N/A

Attachments
agreement
BCC approval