HomeMy WebLinkAboutMINUTES - 06172014 - C.100RECOMMENDATION(S):
APPROVE and AUTHORIZE the County Administrator, or designee to execute a contract amendment with Schiff
Hardin LLP, effective June 29, 2014, to extend the contract term from June 30, 2014 through June 30, 2016, with no
change in the contract payment limit of $300,000.
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, Schiff Hardin LLP (formerly Lofton & Jennings) was selected.
Schiff Hardin 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 legal and other documents related to these issues with a minimum
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 06/17/2014 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Mary N. Piepho, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor
Contact: Lisa Driscoll, County Finance
Director (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: June 17, 2014
David Twa, County Administrator and Clerk of the Board of Supervisors
By: Chris Heck, Deputy
cc: Robert Campbell, Auditor-Controller
C.100
To:Board of Supervisors
From:David Twa, County Administrator
Date:June 17, 2014
Contra
Costa
County
Subject:Disclosure Counsel Contract Extension
BACKGROUND: (CONT'D)
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.
As stated in the RFP, the contract term would be three years with the option of two additional years. The County
Administrator’s Office wishes to exercise the option of two additional years through this contract extension request.
CONSEQUENCE OF NEGATIVE ACTION:
The County would not have legal representation on County bond disclosure issues.
CHILDREN'S IMPACT STATEMENT:
Not applicable.