Laserfiche WebLink
Designating POB Financial Team <br />September 19, 2011 <br />Fees for Bond and Disclosure Counsel are solely contingent upon actual issuance of the pension <br />obligation bonds. The fees are included in the cost of issuance and paid from the proceeds of the <br />bonds. The Bond and Disclosure Counsel fees for a $20,000,000 issuance would total $83,000. <br />Previous City Council Action <br />The City Council approved the agreement with the Financial Advisor, Public Financial <br />Management, Inc., on July 5, 2011. <br />City Council Committee Review and Action <br />The Finance Committee recommends the resolution designating the Financial Advisor, <br />Underwriter, and Bond Counsel for the pension obligation bond financing based on its review on <br />September 9, 2011. <br />CONCLUSION <br />The Finance Committee recommends the resolution designating the Financial Advisor, <br />Underwriter, and Bond and Disclosure Counsel for the pension obligation bond financing. <br />