An update to this memo was posted on June 14, 2017. Please refer to the Addendum to Agenda Item in the attachments to this item.
DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: City-wide
SUBJECT:
Approving the Financial Underwriting Pool and approving the Financial Underwriter Syndicate
SUMMARY:
A. This Ordinance approves the selection of a Financial Underwriting Pool from which Financial Underwriting Syndicates will be selected and approved by City Council for various financings for a period to commence June 15, 2017 and terminate September 30, 2019, with an option to extend the contract for three (3) additional one (1) year periods under the same terms and conditions.
B. This Ordinance authorizes and approves the Financial Underwriter Syndicate selected from the Financial Underwriting Pool for financings of: General Improvement Bonds, Series 2017, Combination Tax and Revenue Certificates of Obligation, Series 2017, and Tax Notes, Series 2017.
BACKGROUND INFORMATION:
A Request for Qualifications (RFQ) was developed to establish a Financial Underwriting Pool ("Pool") comprised of firms to be utilized for the selection of underwriting syndicates for financial transactions effectuated by the City over the term of the Pool. The RFQ was advertised in the San Antonio Express-News on June 26, 2016 and posted on the City's website on June 27, 2016 and emailed to fifty-six (56) firms. On July 29, 2016, thirty-seven (37) proposals were received; however, one (1) firm was deemed nonresponsive and one (1) firm withdrew their proposal and therefore only thirty-five (35) firms were evaluated.
The proposals were evaluated by a Selection Committee comprised of representatives from the City Manager's Office, Finance Department, and an individual from the private sector. Advisory participants also included the City's Co-Financial Advisors and representatives from the Finance Department, City Attorney's Office and the Purchasing Depar...
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