STRATEGIC PRIORITY: Government Performance & Financial Management
AGENDA DATE: September 13, 2023
COUNCIL DISTRICT(S): All
DEPARTMENT: Office of Procurement Services
EXECUTIVE: Jack Ireland
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SUBJECT
Title
Authorize a five-year service contract, with two one-year renewal options, for financial advisory services for the City Controller's Office - Hilltop Securities, Inc. in the amount of $300,000 and Estrada Hinojosa & Company, Inc. in the amount of $200,000, proposed jointly; most advantageous proposer of six - Not to exceed $500,000 - Financing: Financial advisory fees to be paid from bond proceeds and Dallas Water Utilities Fund, contingent upon completion of each bond sale; fees for advisory services not related to bond issuance to be paid from General Fund (subject to annual appropriations)
Body
BACKGROUND
This service contract will provide financial advisory services to:
* Assist with the preparations for and sale of bonds
* Assist with preparations for and presentations to bond rating agencies
* Assist with certain aspects of capital budgeting and planning
* Provide other financial assistance and advice as needed
Financial advisors are needed to lend expertise in areas relating to public finance such as the structure and timing of bond sales, preparation of bond documents and rating agency presentations, assist in evaluating and selecting the best offers, and to close the transaction(s). In addition, the financial advisors are needed to ensure the City's goals and interests are represented and protected in the structuring of the transactions and during the establishment of the borrowing rates and yields.
As a joint team, Hilltop Securities, Inc. and Estrada Hinojosa & Company, Inc. will serve as co-financial advisors and will be responsible for the entire credit profile of the City, including obligations secured by governmental fund revenues and designated enterprise revenues. Curre...
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