HomeMy WebLinkAboutSummary FormDate: 10 / 01 / 2012
AGENDA ITEM SUMMARY FORM
FILE ID: //,
Requesting Department: Finance
Commission Meeting Date: 10 / 11 / 2012 District Impacted: All
Type: /1 Resolution n Ordinance ❑ Emergency Ordinance n Discussion Item
❑ Other
Subject: Bond Underwriting Services
Purpose of Item:
Law Department
Matter ID No.
12-2213
The nature of this item is to establish a resolution authorizing the piggyback procurement of bond
underwriting services from various pre -qualified investment banking firms, utilizing existing City of
Clearwater Contract No. 31-11, solicited and awarded pursuant to open -competitive Request for
Qualifications No. 31-11, to be used on a citywide, as needed contractual basis, effective through
November 2; 2014, subject to any extensions and/or replacement contracts by the City of Clearwater;
allocating funds from the various sources of funds from the user departments and agencies, subject to
the availability of funds and budgetary approval at the time of need; further authorizing the City
Manager to execute all necessary documents in connection therewith.
Background Information:
The City Administration recommends that it is in the best interests of the City to authorize the
piggyback procurement of bond underwriting services from various pre -qualified investment banking
firms, utilizing existing City of Clearwater Contract No. 31-11, and, specifically, to begin working
with Wells Fargo Bank, National Association, in connection with the refinancing of the S45,000,000
outstanding principal amount of the City's Revenue Note Series 2010 (Port of Miami Tunnel and
Access Improvement Project). This item was presented to and approved by the City of Miami Finance
Committee at their duly noticed meeting on Monday, October 1, 2012.
Budget Impact Analysis
NO Is this item related to revenue?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No: As required by Department
Special Revenue Account No: N/A
CIP Project No: As required by Department
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost: TBD
Maintenance Cost: N/A
Total Fiscal Impact: TBD
CIP A
Gi�uJng or.receiving l funds nds
Final Approvals
(SIGN AND DATE)
��y Budget •�-
Ai
/i Risk Management
Purchasing ( Dept. Director
Chief City Manage 1
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