HomeMy WebLinkAboutMINUTES - 12092008 - C.69 _o
0: ~ BOARD OF SUPERVISORS �'` `� Contra
'
CostaFROM: DAVID TWA, COUNTY ADMINISTRATOR
DATE: December 9, 2008
°srA �oU County
SUBJECT: Financial Advisor Contract
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS)
APPROVE and AUTHORIZE the County Administrator or his designee to enter into a contract with
Tamalpais Advisors, Inc. for financial advisory services from July 1, 2008 to June 30, 2010 in an amount
not.to exceed $275,000.
FISCAL IMPACT
The cost of financial advisory 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. Other
special bond related projects are billed on an hourly basis and charged to occupants of the property for
which the bond was issued.
CONTINUED ON ATTACHMENT: 5YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR CJ RECOMMENDATION OF BOARD COMMITTEE ❑
L9'APPROVE ❑ OTHER
SIGNATURE(S): nn n,•.,�
ACTION OF BOARD ON T, 1MbL ol1
1 a APPROVED AS RECOMMENDED ❑ OTHER
VOTE OF SUPERVISORS: I HEREBY CERTIFY THAT THIS IS A TRUE AND
CORRECT COPY OF AN ACTION TAKEN AND
�O UNANIMOUS(ABSENT ENTERED ON THE MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
AYES: NOES:
ABSENT: ABSTAIN: ��� n!y�
ATTESTED:iyan� C( o
Contact: Lisa Driscoll (335-1023) r DAVID TWA, CLERK OF THE BOARD
OF SUPERVISORS AND COUNTY
cc: CAO ADMINISTRATOR
Tamalpais Advisors, Inc. (via CAO)
By: Deputy
- .• fir,
Page 2
BACKGROUND
The County anticipates issuing bonds during this time period. In addition to assistance with bonds, the
services of Tamalpais Advisors Inc. are needed on an occasional basis to prepare presentations to rating
agencies. It is important to retain a firm with these particular skills to ensure that the County stays updated
on advantageous market trends and to assist in the evaluation of financing ideas that are presented to staff
by underwriters from time to time.
Tamalpais Advisors, Inc. is a small, woman-owned business whose staff has worked with the County for
over a decade in the issuance and sale of the County's annual tax and revenue anticipation notes, periodic
lease revenue bond issues and its pension obligation bonds. The staff assigned is extremely familiar with
the County and is able to prepare the required legal and rating agency documents related to these issues
with a minimum of time and cost. 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.