Laserfiche WebLink
REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />JULY 7, 2020 <br />TITLE <br />APPROVE AN AGREEMENT WITH <br />URBAN FUTURES, INC. FOR A <br />TOTAL AMOUNT NOT TO EXCEED <br />$155,000 TO PROVIDE FINANCIAL <br />ADVISORY AND DISSEMINATION <br />ETC] 4.III I&9=I:11YIs] *9 <br />(GENERAL FUND AND NON -GENERAL <br />FUND) <br />/s/ Kristine Ridge <br />CITY MANAGER <br />:7xd01LTA ILTA IAki11111A1111Ve«II[IIII7ki1 <br />CLERK OF COUNCIL USE ONLY: <br />_••e• <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1 s' Reading <br />❑ Ordinance on 2ntl Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For_ <br />CONTINUED TO <br />FILE NUMBER <br />Authorize the City Manager to execute an agreement with Urban Futures, Inc. for financial advisory <br />and dissemination agent services beginning July 7, 2020 through June 30, 2023, with provisions <br />for a three-year professional services agreement and with two one-year renewal options, in an <br />amount of $31,000.00 per year for a total amount not to exceed $155,000 for the period July 1, <br />2023 through June 30, 2025, subject to non -substantive changes approved by the City Manager <br />and City Attorney. <br />DISCUSSION <br />On a periodic basis, the Finance and Management Services Agency (FMSA) evaluates the <br />financial impact of various complex and special projects (Projects). In certain instances, a <br />consultant with a specific knowledge and/or skill is required to assist FMSA staff with evaluation <br />of certain tasks. <br />A consultant is also necessary to assist staff in filing financial information to both government <br />regulatory agencies and investors. The filings are required as a condition of the City issuing debt <br />(i.e. bonds, private placements, etc.). <br />During the upcoming fiscal year, staff anticipates evaluating the financial impacts of the following <br />projects/tasks: <br />Financial Advisory <br />Bond Financing <br />Evaluate refunding opportunities <br />Determination if the City should issue debt rather than utilize existing cash for the <br />purposes of capital projects <br />On -Call Financial Advisory Services <br />25F-1 <br />