HomeMy WebLinkAboutMINUTES - 08011989 - 2.1 AV
THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
Adopted this Order on August 1, 1989 , by the following vote:
AYES: Supervisors Powers, Fanden, Schroder, McPeak, Torlakson
NOES: None
ABSENT: None
ABSTAIN: None
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SUBJECT: Hospital Replacement Project Consultants
The Board received the attached report dated July 13 ,
1989 from the County Administrator recommending appointment of the
underwriter and bond counsel for the Merrithew Hospital replacement
project.
Board members discussed the matter and requested further
information relative to the ranking process used in selection of
the consultants, public finance experience both local and in other
areas and a comprehensive analysis of all firms considered.
Therefore, IT IS BY THE BOARD ORDERED that consideration
of the attached report is CONTINUED to August 15, 1989 .
IT IS FURTHER ORDERED that the County Administrator is
REQUESTED to provide to the Board more comprehensive information on
selection of the consultants.
cc: County Administrator
Health Services Director
1 hereby certify that this is a true and correct copy of
an action taken and entered on the minutes of the
Board of SupeMeors an the date shown.
ATTESTED: /. /ft?
PHIL BAT OR,Clerk of the Board
Of SupeMsas and County Administrator
TO: . - BOARD OF SUPERVISORS Contra
FROM: Phil Batchelor, County Administrator
Costa
ot
n. 15
m ce
County
DATE: July 13 , 1989 TA CpUN�
SUBJECT: Appointment of Underwriter and Bond Counsel for
Merrithew Hospital Replacement Project
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
1 . Approve the selection of The First Boston Corporation as
Senior Manager and Bank of America Capital Markets as
Co-Manager for the Financial-Underwriter consultant for the
Hospital Replacement Project.
2. Approve the selection of Orrick, Herrington & Sutcliffe with
Pamela S. Jue, Esq. as Co-Bond Counsel consultants for the
Hospital Replacement Project.
3 . Direct the County Administrator to negotiate appropriate
agreements with the selected firms. If a satisfactory
agreement cannot be reached with any of the firms, then
undertake negotiations with the next ranked firm from the
list interviewed and ranked by the Selection Committee.
4. Direct that consideration be given to the selection and
addition of a third co-manager with MBE/WBE certification
for the underwriting portion of the consulting services when
and if the project results in an approved bond issue.
5. Approve First Boston' s designation of the law firm of
Nossaman, Guthner, Knox and Elliot as Underwriters ' Counsel.
CONTINUED ON ATTACHMENT: X YES SIGNATURE: /� 0ec-P
-RECOMMENDATION OF COUNTY ADMINISTRATOR -RECOMMENDATION OF BOARD COMMITTEE
_APPROVE _OTHER
SIGNATURE(S):
CTION OF BOARD ON July 25, 1989 APPROVED AS RECOMMENDED _ OTHER
VOTE OF SUPERVISORS
1 HE Y CERTIFY THAT THIS IS A TRUE
UNANIMOUS(ABSENT ) AND COR T COPY OF AN ACTION TAKEN
AYES: NOES: AND ENTERED HE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVISORS ON DATE SHOWN.
ATTESTED
PHIL BATCHELOR,CLERK O E BOARD OF
SUPERVISORS AND COUNTY ADMI TRATOR
M382 (10/88) BY PUTY
-2-
FINANCIAL IMPACT
The fee for Underwriter services is on a contingency basis and is
paid from the proceeds of a bond issue when and if the project
reaches that stage. . Funds necessary for agreements negotiated as
a result of this Board action will- come from future bond proceeds
or from funds available to the Hospital Enterprise Fund.
BACKGROUND
In accordance with Board direction, requests for proposals were
widely distributed for the Underwriter and Bond Counsel
consulting services. Thirty-nine requests were sent out for
Underwriter with 17 responses and 18 requests for Bond Counsel
with nine responses. A Review Committee screened the responses
to four firms for each of the tasks. The selected firms were
interviewed on June 8, 1989 and ranked in order based upon the
qualifications, knowledge of the issues and capabilities of the
individuals to be assigned to the County project.
The Selection Committee was comprised of the Assistant County
Administrator-Finance, a Deputy County Administrator, the
Director of Health Services, the Executive Director of Merrithew
Hospital, the Hospital Finance Director, the Auditor-Controller,
the Treasurer-Tax Collector, the County Redevelopment Director, a
Senior Leasing Agent from General Services and a Management
Analyst from the County Administrators ' Office. The Committee
reached a unanimous decision on the recommended consulting team.
All of the firms interviewed were well qualified to perform the
tasks necessary for a successful project. . The Selection
Committee was impressed with the quality and experience of the
firms and individuals interviewed.
The recommended firms have been reviewed by the County d
Affirmative Action Office. The Bond Counsel, Co-Counsel
arrangement meets the MBE/WBE policy goals. The Underwriter
firms interviewed are not certified as MBE/WBE firms. The
Affirmative Action Office has recommended adding a firm so
qualified, at the time additional assistance can be used in the
marketing of an approved bond issue. The staff will work with
the appointed Underwriter to select a well qualified MBE/WBE firm
to add to the team at that time.
The selected Underwriter, First Boston, has asked that the County
concur in the appointment of the law firm of Nossaman, Guthner,
Knox and Elliot to serve as the Underwriters ' Counsel to advise
the County and the Underwriter on technical issues related to the
financing. The firm is well respected in the field and will be a
valuable asset to the project team.
cc: Health Services'
General Services
Auditor-Controller
Treasurer-Tax Collector
County Counsel