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REQUEST • - d <br />Y <br />SUCCESSORRI 1 <br />,i <br />ACTION <br />etuti <br />MEETING DATE: <br />AUGUST 21, 2018 <br />TITLE: <br />APPROVE AGREEMENTS WITH URBAN FUTURES <br />INC., ORRICK, HERRINGTON & SUTCLIFFE, LLP, <br />AND BEST, BEST & KRIEGER, LLP FOR BOND <br />SERVICES PERTAINING TO THE REFUNDING OF <br />THE TAX ALLOCATION BONDS, SERIES 2003 A & B <br />AND 2011A (NON -GENERAL FUND) <br />(STRATEGIC PLAN NO. 4, 2D) <br />CITY Ij ANAGER <br />RECOMMENDED ACTION <br />CLERK OF THE COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Implementing Resolution <br />❑ Other <br />CONTINUED TO <br />FILE NUMBER <br />1) Authorize the City Manager and Clerk of the Council to execute an agreement with Urban <br />Futures Inc. for financial advisor & fiscal consultant services related to the refunding of the <br />Tax Allocation Bonds for a one-year term beginning August 21, 2018 through July 31, 2019, <br />for a not -to -exceed amount of $60,000 for financial advisor services and a not -to -exceed <br />amount of $25,000 for fiscal consultant services, subject to non -substantive changes <br />approved by the City Manager and the Agency Counsel. <br />2) Authorize the City Manager and Clerk of the Council to execute an agreement with Orrick, <br />Herrington & Sutcliffe, LLP for bond counsel services related to the refunding of the Tax <br />Allocation Bonds for a one-year term beginning August 21, 2018 through July 31, 2019, for <br />a not -to -exceed amount of $66,500, subject to non -substantive changes approved by the <br />City Manager and the Agency Counsel. <br />3) Authorize the City Manager and Clerk of the Council to execute an agreement with Best, <br />Best & Krieger, LLP for disclosure counsel services related to the refunding of the Tax <br />Allocation Bonds for a one-year term beginning August 21, 2018 through July 31, 2019, for <br />a not -to -exceed amount of $52,500, subject to non -substantive changes approved by the <br />City Manager and theAgency Counsel . <br />DISCUSSION <br />As a best practice and a matter of prudence, the City's Finance and Management Services <br />Agency, , valuates the City's existing debt obligations to identify potential savings in its borrowing <br />SA -3-1 <br />