City Council

(11) 19­0355­S1 BUDGET, FINANCE AND INNOVATION COMMITTEE REPORT relative to the selection of the City's General Municipal Advisors and Municipal Advisors for the City's Wastewater System Revenue Bond Program. Recommendation for Council action: AUTHORIZE the City Administrative Officer (CAO), or designee, to negotiate and execute contracts with: a. KNN Public Finance, Montague DeRose & Associates LLC, Omnicap Group LLC, and Public Resources Advisory Group to serve as general municipal advisors for a three­year term, in an amount not to exceed $300,000 annually for non­transactional work plus an amount not expected to exceed $100,000 per bond financing, with the option to extend for two additional one­year periods, subject to the approval of the City Attorney as to form. b. Frasca & Associates, LLC, KNN Public Finance, Montague DeRose & Associates LLC, Omnicap Group LLC, and Public Resources Advisory Group to serve as municipal advisors to the Wastewater System Revenue Bond Program for a three­year term, in an amount not to exceed $200,000 annually for non­transactional work plus an amount not expected to exceed $200,000 per bond financing, with the option to extend for two additional one­year periods, subject to the approval of the City Attorney as to form. Fiscal Impact Statement: The CAO reports that there is no impact to the General Fund as a result of the recommendation contained in this report. Non­bond transaction general municipal advisory services will be paid from budgeted funds within Capital Finance Administration Fund, or budgeted bond administrative accounts within various special funds as appropriate. Non­bond transaction wastewater municipal advisory services will be paid from budgeted funds within the Sewer Construction Wednesday and Maintenance Fund. - June 26,The cost 2024 13 for bond services - of municipal advisoryPAGE financings is estimated between $30,000 and $200,000 per transaction, periods, subject to the approval of the City Attorney as to form. Fiscal Impact Statement: The CAO reports that there is no impact to the General Fund as a result of the recommendation contained in this report. Non­bond transaction general municipal advisory services will be paid from budgeted funds within Capital Finance Administration Fund, or budgeted bond administrative accounts within various special funds as appropriate. Non­bond transaction wastewater municipal advisory services will be paid from budgeted funds within the Sewer Construction and Maintenance Fund. The cost of municipal advisory services for bond financings is estimated between $30,000 and $200,000 per transaction, depending on the complexity of the financing, and will be paid from bond proceeds upon the successful closing of a financing transaction. Financial Policies Statement: The CAO reports that this report is in compliance with the City's financial policies.