THE PURCHASING DIVISION AND THE FINANCE AND ADMINISTRATIVE SERVICES DEPARTMENT RECOMMEND APPROVAL OF THE ABOVE MOTION.
The Office of Economic and Small Business Development (OESBD) did not establish a County Business Enterprise participation goal for this library (Exhibit 2).
This solicitation seeks to create a Library of Bond Underwriters to assist the County in the marketing and sale of bonds to meet financing requirements for airport, port, water and sewer, general obligation, certificates of participation, special obligation, and all other debt.
It is the County’s intent to establish a library of five to ten underwriters to fulfill the roles of senior and co-manager for negotiated bond financings for a five-year period. In addition, the firms selected for the library may be asked to provide advice and recommendations to the County on related issues and assist the County in investor relations activities.
Qualifications considered in underwriter assignments include firm experience by credit type, quality of proposals submitted for each transaction, retail sales approach, creative approach to the financing to keep costs to a minimum, underwriter fees and charges, and financing team. At the time of each transaction, a questionnaire will be sent to the library and reviewed by the County.
Recommendation for firm assignments will be made on a qualification basis at the discretion of the Chief Financial Officer. A Bond Purchase Agreement in a form acceptable to the County Attorney will be approved by the Board and executed for each bond transaction at the time of sale.
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