HomeMy WebLinkAboutMINUTES - 05221990 - I.O.4 • ` I .O.-4
TO: BOARD OF SUPERVISORS E; ---L-
`-;: �. Contra
FROM: INTERNAL OPERATIONS COMMITTEE
W. Costa
x� County
May 14 1990
DATE: y I
SUBJECT- REPORT ON THE SELECTION OF QUALIFIED INVESTMENT ADVISERS AND
BOND COUNSEL FOR SINGLE FAMILY AND MULTI-FAMILY HOUSING BONDS
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS:
1. Concur with the inclusion of each of the firms list on the
four attachments in an approved Qualified Advisors ' List for
Bond Counsel and Investment Bankers for Single-Family and
Multi-Family Mortgage Revenue Bond Financings.
2. Request the Deputy Director, Redevelopment Agency to review
the qualifications of O'Melveny & Myers to determine whether
they qualify as a minority-owned &/or women-owned business
for purposes of the County' s MBE/WBE Program and if they do,
reflect this fact on the attachments.
3 . In selecting investment bankers and bond counsel, direct
staff, in formulating their recommendations to the Board or
Board Committees, to give substantial weight to the
following criteria, assuming all firms are qualified:
* Insure that a variety of firms are provided an
opportunity to handle the County' s business as long as
doing so does not increase costs, rather than always
depending on a single firm or only a few firms.
* Provide preference whenever appropriate and feasible
for firms which are located in the Bay Area or have an
office in the Bay Area.
* Insure that an appropriate portion of the County' s
business is given to MBE/WBE firms.
CONTINUED ON ATTACHMENT:YJe-c:;--YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD O ITTE
APPROVE OTHER
SIGNATURE(S): SUNNE RT ,9T MnPEAK M POWERS
ACTION OF BOARD ON May 22 ., 1990 APPROVED AS RECOMMENDED X OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A TRUE
_2L UNANIMOUS(ABSENT I ) AND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES: AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN.
CC: County Administrator ATTESTED aa, /990
Community Development Director PHIL BATCHEL R,CLERK OF THE BOARD OF
Redevelopment Director SUPERVISORS AND COUNTY ADMINISTRATOR
County Counsel-
Audi-tor-Control ler
M382
Treasurer-Tax Collector BY 00_&�
(10/88) DEPUTY
F
, 1
BACKGROUND:
Consistent with established Board policy, our Committee has
reviewed the proposed list of qualified investment advisers and
bond counsel for the County' s future Single-Family and
Multi-Family Mortgage Revenue Bond Financings. We' agree that all
firms listed are qualified. We are asking staff to check on
whether O'Melveny and Myers also qualify as either an MBE or WBE
firms or both and if so correct the attached schedules
accordingly. We are also suggesting that the Board of
Supervisors direct staff to insure that a sincere effort is made
to share the County' s business with a variety of firms, rather
than always depending on a single firm, simply because such a
firm is qualified and we have had good experiences in working
with them. It is important, in our view, to share this business
with a broader group of firms so that many of the listed firms
have an opportunity to do business with the County. We also
believe that more of an emphasis should be made on giving the
County' s business to local firms or at least firms which have a
local office in the Bay 'Area and that more of the County' s
business be given to firms that qualify as minority-owned and/or
women-owned businesses.
CONTRA COSTA COUNTY
COMMUNITY DEVELOPMENT DEPARTMENT
c;ontrp! Costa CounW
DATE: May 9, 1990
i:-CEIVED
rA Ay
TO: INTERNAL OPERATIONS COMMITTEE ::`ffiCo O`
Supervisor Sunne McPeak
Supervisor Tom Powers
FINANCE COMMITTEE
Supervisor Tom Torlakson
Super obert Schroder
FROM: ,imn y,
/ Depu y irector-Redevelopment
i
SUBJECT: ablishment of a Qualified Advisors' List - Bond Counsel and
"Investment Bankers - For. Single-Family and Multi-Family Mortgage
Revenue Bond Financings.
This matter will be before the respective Board Committee's as follows:
Internal Operations Committee
Monday, May 14, 1990
10:45 a.m.
Finance Committee
Monday, May 21, 1990
10:00 a.m.
The County expects to issue Single-Family and Multi-Family Bonds in 1990.
Pursuant to established Board of Supervisors's procedures, staff 'has requested
Statements of Qualifications from prospective Investment Banking Firms and Bond
Counsel Firms for use in said transactions. The attached tables summarize the
general information provided in the Statement of Qualifications-
Table 1 - Investment Bankers for Single-Family Transactions
Table 2 - Investment Bankers for Multi-Family- Transactions
Table 3 - Bond Counsel for Single-Family Transactions
Table 4 - Bond Counsel for Multi-Family Transactions
Based on a review of the Statements of Qualifications, all of the firms have
experience in the respective transaction area or have personnel who have such
experience. Therefore, staff is recommending that each of 'the firms be
designated for inclusion on a Qualified Advisors' List.
A committee consisting of the County Auditor-Controller, County Treasurer-Tax
Collector, Deputy County Administrator for Capital Projects, and the
Redevelopment Director will review the Qualifications and such additional
information as is determined necessary and submit recommendations to the
Internal Operations Committee and the Finance Committee for designation of
Investment Bankers and Bond Counsel .
Such a recommendation will be before the respective committees in early to
mid-June.
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