DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: City-Wide
SUBJECT:
Financial Advisor Services Contract(s) for the City of San Antonio
SUMMARY:
A. This Ordinance authorizes the execution of a contract with Coastal Securities, Inc. to provide Co-Financial Advisor Services in connection with various of the City's financings for a period to commence April 1, 2016 and terminate March 31, 2019, with an option to extend the contract for one additional two-year period under the same terms and conditions.
B. This Ordinance authorizes the execution of a contract with FirstSouthwest, a Division of Hilltop Securities Inc. to provide Co-Financial Advisor Services in connection with various of the City's financings for a period to commence April 1, 2016 and terminate March 31, 2019, with an option to extend the contract for one additional two-year period under the same terms and conditions.
BACKGROUND INFORMATION:
The City utilizes Financial Advisor Services to assist in the management of its debt program and the design and issuance of bonds, certificates, tax notes, and other financial instruments. 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, attending meetings, and the provision of ongoing services after the successful delivery of a debt issuance.
A Request for Proposal (RFP) for Financial Advisor Services was developed inclusive of the various types of financings the City may undertake during the term of the Financial Advisor Contract. The RFP was advertised in the San Antonio Express News, posted on the City's website, and mailed to sixty-five (65) firms. On November 17, 2015, eight (8) proposals were received.
A selection committee comprised of representativ...
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