DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: City-wide
SUBJECT:
Ratifying the First Amendment and Second Extension of the Financial Advisor Services Contracts
SUMMARY:
This ordinance ratifies the First Amendment and Second 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) month term, commencing January 1, 2016 and terminating February 29, 2016, under the same terms and conditions. Additionally, the City of San Antonio has the option to renew for one (1) additional one (1) month period, commencing March 1, 2016 and ending March 31, 2016. This option is at the City of San Antonio's sole discretion. The City of San Antonio is required to give written notice to the Financial Advisors to exercise this option.
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 providing 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...
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