HomeMy WebLinkAboutMINUTES - 09132011 - C.72RECOMMENDATION(S):
APPROVE and AUTHORIZE the County Administrator, or designee, to execute a contract
with Lofton & Jennings in an amount not to exceed $300,000 for bond disclosure counsel
services for the period of July 1, 2011 through June 30, 2014.
FISCAL IMPACT:
The cost of bond disclosure services is covered in the cost of issuance included in each bond
issue. Fees are negotiated for each borrowing transaction based upon the size and
complexity of the transaction.
BACKGROUND:
On May 2, 2011, the County issued a Request for Proposals (RFP) for Bond Disclosure
Counsel Services. After review by committee and firm interviews, Lofton & Jennings was
selected.
Lofton & Jennings has provided excellent disclosure services to the County in the issuance
of and sale of the County’s periodic lease revenue bond and pension obligation bond issues.
The staff assigned is extremely familiar with the County and are able to prepare the required
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 09/13/2011 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I
Supervisor
Gayle B. Uilkema, District II
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
Federal D. Glover, District V
Supervisor
Contact: Lisa Driscoll,
925-335-1023
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board
of Supervisors on the date shown.
ATTESTED: September 13, 2011
David Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc:
C. 72
To:Board of Supervisors
From:David Twa, County Administrator
Date:September 13, 2011
Contra
Costa
County
Subject:Bond Disclosure Counsel Contract
legal and other documents related
BACKGROUND: (CONT'D)
to these issues with a minimum of time. They are also familiar with the County’s
outstanding bonds and have proven to be an invaluable resource to staff responsible for the
ongoing management of the County’s debt.
CONSEQUENCE OF NEGATIVE ACTION:
The County would not have legal representation on County bond disclosure issues.
CHILDREN'S IMPACT STATEMENT:
None.