Title
AN ORDINANCE APPROVING THE AWARD OF RFP NO. 2018-034 FOR A YEARLY AGREEMENT WITH FOUR POSSIBLE ONE-YEAR RENEWALS FOR FINANCIAL ADVISORY SERVICES WITH COLUMBIA CAPITAL MANAGEMENT, LLC BASED ON AMOUNTS SPECIFIED IN THE FEE SCHEDULE INCLUDED IN EXHIBIT A AND AUTHORIZING THE CITY MANAGER TO EXECUTE THE SAME BY AND ON BEHALF OF THE CITY. (F&BC 1-8-18)
Body
Proposed Council Motion:
FIRST MOTION: I move for second reading of AN ORDINANCE APPROVING THE AWARD OF RFP NO. 2018-034 FOR A YEARLY AGREEMENT WITH FOUR POSSIBLE ONE-YEAR RENEWALS FOR FINANCIAL ADVISORY SERVICES WITH COLUMBIA CAPITAL MANAGEMENT, LLC BASED ON AMOUNTS SPECIFIED IN THE FEE SCHEDULE INCLUDED IN EXHIBIT A AND AUTHORIZING THE CITY MANAGER TO EXECUTE THE SAME BY AND ON BEHALF OF THE CITY.
SECOND MOTION: I move for adoption of AN ORDINANCE APPROVING THE AWARD OF RFP NO. 2018-034 FOR A YEARLY AGREEMENT WITH FOUR POSSIBLE ONE-YEAR RENEWALS FOR FINANCIAL ADVISORY SERVICES WITH COLUMBIA CAPITAL MANAGEMENT, LLC BASED ON AMOUNTS SPECIFIED IN THE FEE SCHEDULE INCLUDED IN EXHIBIT A AND AUTHORIZING THE CITY MANAGER TO EXECUTE THE SAME BY AND ON BEHALF OF THE CITY.
Background:
The City uses the services of a financial advisor firm to assist in the issuance of debt obligations. Those duties include research, planning, and development for financing needs; consultation with City administrative staff, bond counsel, and rating agencies; and marketing services to determine the best timing and structure, compilation of required documents, advertising, etc. In addition, the selected advisor firm may be asked to assist with related projects such as overall financial analysis and planning, analysis of investment activities, and financial feasibility reviews for development projects.
The City has used the services of Springsted Inc. since December, 2009. A Request for Proposals #2018-034 was used to solicit interest from qualified service providers. The Procurement Division notified 20 firms directly and 587...
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