City of San Antonio - File #: 13-1075

• File #: 13-1075
• Type: Miscellaneous Item
• In control: City Council A Session
• On agenda: 12/5/2013
• Posting Language: An Ordinance approving the extension of the City of San Antonio Financial Advisor Services Contracts with Coastal Securities, Inc. and Estrada Hinojosa & Company, Inc. for Financial Advisor or Co-Financial Advisor Services in connection with the City’s financings, for a two year term beginning January 1, 2014 and ending December 31, 2015, under the same terms and conditions. [Ben Gorzell, Jr., Chief Financial Officer; Troy Elliott, Director, Finance]

Date	Ver.	Action By	Action	Result
12/5/2013	1	City Council A Session

DEPARTMENT: Finance


DEPARTMENT HEAD: Troy Elliott


COUNCIL DISTRICTS IMPACTED: All


SUBJECT:

Approving the extension of the Financial Advisor Services Contracts


SUMMARY:

This ordinance approves the extension of the City of San Antonio Financial Advisor Services Contracts with Coastal Securities, Inc. and Estrada Hinojosa & Company, Inc. for Financial Advisor or Co-Financial Advisor Services in connection with the City's financings, for a two (2) year term commencing January 1, 2014 and terminating December 31, 2015, under the same terms and conditions.



BACKGROUND INFORMATION:

The City contracts with qualified firms to provide Financial Advisor Services to assist the City in the management of its various debt programs and the design and issuance of bonds, certificates of obligation, tax notes, and other financial instruments, as may be required. Financial Advisor Services include, but are not limited to, quantitative analysis, evaluation and presentation of financing options, provision of timely credit market information, preparation of offering documents, advice and assistance with the issuance, sale and delivery of debt instruments, as well as, attending meetings and on-going services after the successful delivery of a debt issuance.

On December 16, 2010, City Council approved Ordinance 2010-12-16-1099 and Ordinance 2010-12-16-1100 authorizing Financial Advisor Services Contracts with Coastal Securities, Inc. and Estrada Hinojosa & Company, Inc., respectively, to provide financial advisor services in connection with the City's financings for a term beginning December 20, 2010 and ending December 31, 2013, with the option to extend for one (1) additional two (2) year term. Additionally, Coastal Securities, Inc. would have a fee participation level of 60% and serve as the lead Co-Financial Advisor and Estrada Hinojosa & Company, Inc. would have a fee participation level of 40% and serve as the Co-Financial Advisor.

The...