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Establish Listing of Financial Services <br />To City Departments <br />January 21, 2014 <br />Page 2 <br />The firms and ratings are identified below: <br />FIRM <br />Public Financial Management Group (PFM) <br />SCORE <br />947 <br />Fieldman Rolapp & Associates <br />92% <br />First Southwest <br />91% <br />Urban Futures, Inc. UFI <br />83% <br />CSG Advisors <br />77% <br />NHA Advisors LLC <br />73% <br />Harrell & Company Advisors, LLC <br />69% <br />Springsted Incorporated <br />67% <br />All firms submitting proposals demonstrated the ability to deliver the necessary services to the City. <br />However, firms submitting a proposal that included an overview or discussion of the City's existing <br />debt received higher marks. In addition, staff also considered a firm's ability to provide additional <br />services beyond that of a normal bond issuance as well as the general proximity of the firm's offices <br />to the City. Staff established a threshold of an 80 percent score and recommends approval of four <br />firms. <br />Upon approval of the recommended action, staff, in conjunction with a financial advisor will review <br />and recommend refunding opportunities to the City Manager for consideration (exhibit 1). In addition <br />to exploring opportunities for refunding, City staff will work with a selected financial advisor for <br />opportunities to increase the City's bond rating, ensure continued bond disclosure compliance, as <br />well as explore long-term bonding opportunities to address critical needs of the City. <br />FISCAL IMPACT <br />Costs for financial services will be dependent on the size of the refunding or scope of project <br />requested. Initial funding will be dependent on the project and funding source with subsequent <br />projects funded through generated savings. All projects will be submitted for approval to the City <br />Manager. <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency <br />29A-2 <br />