HomeMy WebLinkAboutMINUTES - 02062001 - C.87 �. R 7
TO: BOARD OF SUPERVISORS sm.. CONTRA
., :
.FROM: PHIL BATCHELOR, COUNTY ADMINISTRATOR 0a�' COSTA
COUNTY
DATE: February 6, 2001 " ,nf
SUBJECT: Financial Advisory Services
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATION(S):
1. APPROVE and AUTHORIZE the County Administrator or his designee to terminate a
contract with C.M. de Crinis for financial advisory services and to execute a contract with
Sperry Capital, Inc. for financial advisory services for various financing projects over the
next twelve months.
FINANCIAL IMPACT:
The cost of consulting services is covered in the cost of issuance included in each bond issue or
note. Fees are negotiated for each issue and may vary based upon the size and complexity of the
transaction. Other special bond-related projects are billed on an hourly basis and charged to the
occupants of the property for which the bond was issued.
BACKGROUND:
Ms. Jean Buckley, formerly of C.M. de Crinis, Inc., has worked''with the County for the last decade in
the issuance and sale of the County's annual tax and revenue anticipation notes and periodic lease
revenue bond issues. Recently, Ms. Buckley left C.M. de Crinis and joined the firm of Sperry Capital,
Inc. Ms. Buckley is extremely familiar with the County and is able to prepare the required
documents, rating agency presentations, and other materials for use in bond issuances at a minimum
of time and cost.
Ms. Buckley also provides on-going assistance to County staff in the review and evaluation of ideas
and proposals for various financings under consideration. Such reviews are done without a fee
unless substantial analysis becomes necessary. The proposed contract will provide an hourly basis
for paying for additional services should it become necessary.
CONTINUED ON ATTACHMENT: SIGNATURE(Y*�
( . Ck2��Gt1
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD ON Ae ae, APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
/ 1 HEREBY CERTIFY THAT THIS IS A
UNANIMOUS(ABSENT_S� 1 TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED
ABSENT: ABSTAIN: ON MINUTES OF THE BOARD OF
SUPERVISORS
SS2ON THE DATE SHOWN.
ATTESTED rP�r�Cc�Yti 6 ate/
PHIL BATCHELOR, LERK OF
THE BOARD OF SUPERVISORS
BY"�", MaX-Z2 ,DEPUTY
Contact: Laura Lockwood, CAO—Capital Facilities and Debt Management, 335-1093
cc: CAO–Capital Facilities& Debt Management