HomeMy WebLinkAboutMINUTES - 04171990 - FC.1 rA �e I
TO: BOARD OF SUPERVISORS ....... o�
FROM: Finance Committee
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DATE: April 24, 1990 ::''
Costa
County
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SUBJECT: Designation of Investment Banker and Bond
Counsel for Mello-Roos Transaction
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Designate Bear Stearns as Investment Banker and Jones, Hall, Hill &
White as Bond Counsel for a prospective Mello-Roos financing at the
Pleasant Hill BART Station.
FISCAL IMPACT
None. The above parties work on a contingency basis where they are
paid upon issuance of bonds. A private developer (or developers)
will pay all such costs.
BACKGROUND./REASONS FOR RECOMMENDATIONS
Pursuant to January 30, 1990 adopted procedures by the Board of
Supervisors, on February 27 , 1990 established a qualified list of
investment bankers for Mello-Roos Community Facilities District
Bond Financing. The Board further directed the Community
Development Department to solicit proposals from some of the
qualified firms for a prospective Mello-Roos financing at the
Pleasant Hill BART Station. Proposals were received and reviewed
by the County Auditor-Controller, Deputy County Administrator-
Capital Projects, and the Redevelopment Director. A recommendation
of this review committee was formulated (attached) and is the basis
for this committee' s recommendation.
Bond Counsel is being designated in recognizing previous
significant investment of time and expenses on the part of said
firm in a County Mello-Roos financing that failed to materialize
due to unrelated litigation.
CONTINUED ON ATTTACFIl4ENT: X_ YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S) : Rober oder Tom Torlakson�
ACTION OF BOARD ON APPROVED AS RECOMMENDED X OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
cc: Community Development ATTESTED APR 17, 1990
CAO PHIL BATCHELOR, CLERK OF
Auditor-Controller THE BOARD OF SUPERVISORS
County Counsel AND COUNTY ADMINISTRATOR
BY (� �jll?'/� DEPUTY
SRA4/jb/invbank.bos