HomeMy WebLinkAboutItem #05 Approval of Selection of Investment Banking Firms ocoee
florida
AGENDA ITEM COVER SHEET
Meeting Date: September 6, 2016
Item #
Reviewed By:
Contact Name: Robert Briggs Department Director: Wand- o o /' ' �J
Contact Number: X1518 City Manager: Robert Fra
Subject: Selection of Investment Banking Firms
Background Summary:
Consistent with the Commission's approval to select a pool of Investment Banking Firms to provide bond
underwriting services for our upcoming bond issues, staff issued RFQ #1603. Responses were received, and
publically opened August 22. The three Investment Banking Firms responding are:
• RBC Capital Markets,
• Stifel Nicolaus, and
• Wells Fargo Securities.
The responses were reviewed by Wanda Horton (Finance Director), Bob Briggs (Chief Accountant), Pam
Brosonski (Finance Manager) and Mark Galvin (Financial Advisor). After reviewing the proposals, it was
determined all of the respondents were well qualified and experienced in the services requested. The
responses are on file in the Finance Department with the Purchasing Agent.
Issue:
Should the City select all three firms to the City's investment banking pool for a five-year period for the
referenced services?
Recommendations:
Staff recommends the Commission approve the underwriting pool consisting of the three firms for a period of
five years and delegate to staff the authority to determine the final make-up of the underwriting team for each
specific bond financing.
Attachments:
None.
Financial Impact:
All costs associated with these services are recovered as part of the bond issuance; and will not have
a budgetary impact in any year bonds are issued.
Type of Item: (please mark with an x')
Public Hearing For Clerk's Dept Use:
Ordinance First Reading X Consent Agenda
Ordinance Second Reading Public Hearing
Resolution Regular Agenda
X Commission Approval
Discussion& Direction
Original Document/Contract Attached for Execution by City Clerk
Original Document/Contract Held by Department for Execution
Reviewed by City Attorney N/A
Reviewed by Finance Dept. ! p N/A
Reviewed by 0 N/A
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