2014/05/07 Council Agenda Packet

3 ATTACHMENT A I. SCOPE OF SERVICES The Financial Advisory Services to be provided include all duties and services necessary or advisable to facilitate the issuance of bonds and other obligations, including but not limited to: • Provide recommendations regarding the timing, structure, conditions and form of debt issuance, including evaluation of bond insurance costs • If a competitive sale is selected, assist in the preparation of bids, formation of bidding syndicates and review of the bids received. • If a negotiated sale is selected, advise the City concerning the number and qualifications of the managing underwriters and their compensation level, market trends, and interest rates proposed by the managing underwriters at the point of entry to the market. • Assist in the preparation of information for rating agency presentations, schedule and assist in the presentations, and act as a liaison with the agencies, providing information as needed to maintain and improve the City's ratings; • Coordinate and prepare Preliminary and Final Official Statements, and other financing documents, including arranging for printing, mailing, and online posting for prospective investors; • Advise the City concerning the need for credit enhancement and assist in the procurement and negotiation of related agreements; • Monitor and control fees and expenses incurred in connection with the issuance of bonds; • Coordinate electronic bid verifications and recommend acceptance or rejection of bids. Evaluate bids relative to the market and other comparable securities; • Assist in closing details and post-closing duties, including ensuring compliance with continuing disclosure filing requirements and providing a post transaction summary report. • Prepare post sale analysis describing the results of the sale in comparison with other financings in the market. • Maintain debt service records on all outstanding City debt; • Monitor and advise the City on refunding opportunities and other financial products that would benefit the City; • Assist in the development and evaluation of requests for proposals and other bidding documents for various services, including procurement of bond insurance and letters of credit. • Attend meetings to present recommendations and analysis and otherwise participate in the financings to assure that the structure, purpose, terms and costs of the issue are consistent with the City's best interests and industry practices. • Bring forward any actual or potential problems that the Financial Advisor may identify and provide recommendations regarding their solutions • Prepare written or oral analyses of unsolicited proposals from investment bankers. • Review and analyze implications for the City of proposed changes to federal, state and local tax and finance laws. Page 3 20