CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
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Approve the award of RFP 20-305, Financial Advisor Consulting Services, to Speer Financial for an amount not to exceed $160,000 for a four-year term
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DEPARTMENT: Finance Department
SUBMITTED BY: Rachel Mayer, Director
BOARD/COMMISSION REVIEW:
N/A
BACKGROUND:
In August 2020, the Finance Department issued RFP 20-305 to hire a consulting firm to provide independent professional bond and borrowing related consulting services on a continuing basis.
The services will include the following:
1. independent financial advice based on the best interest of the City;
2. preparing public presentations to Council;
3. managing debt financing processes;
4. evaluating current debt structure;
5. recommending size and structure of new debt issues;
6. gathering financial and economic data to evaluate borrowing capacity;
7. assisting with the bond rating process;
8. preparing and reviewing statements, notices and forms; and
9. reviewing financial legal documents; managing the competitive or negotiated sale process; and providing support in preparation of the City's annual financial audit.
DISCUSSION:
Advertisement Date: 8/26/2020 Notices Sent: 84
Opening Date: 9/17/2020 Planholders: 8
Proposals Received: 4
Proposals were received from the following vendors:
1. Baker Tilly Municipal Advisors, LLC
2. PMA Securities, LLC
3. Raymond James & Associates Inc.
4. Speer Financial, Inc.
A selection team was comprised of staff from Finance and the Transportation, Engineering, and Development (TED) Business Group. The team evaluated the proposals and scored them against the criteria set forth in the RFP:
1. Capability, Capacity and Qualifications of the financial firm
2. Suitability and Quality of the Approach
3. Milestones and Deliverable
4. Outcomes to be Achieved
Following completion of proposal scoring, the selection team decided not to...
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