STRATEGIC PRIORITY: Government Performance & Financial Management
AGENDA DATE: January 24, 2024
COUNCIL DISTRICT(S): N/A
DEPARTMENT: City Controller's Office
EXECUTIVE: Jack Ireland
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SUBJECT
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A resolution authorizing the selection of an underwriting pool comprised of thirty-six underwriting firms for the purpose of establishing underwriter syndicates on future negotiated bond financings and other debt transactions for a three-year period, with two optional one-year renewals - Financing: No cost consideration to the City
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BACKGROUND
This action will allow the City to establish an underwriting pool comprised of thirty-six underwriting firms for the purpose of establishing underwriter syndicates on future negotiated bond financings and other debt transactions, as required. The City has historically maintained a pool of underwriters for negotiated bond financings, and underwriter syndicates are selected from firms within the underwriting pool via the issuance of a mini-Request for Proposals (mini-RFP) specific to the individual bond transaction. Minority/Women-owned Business (M/WBE) firms are included in underwriter syndicates in accordance with the M/WBE participation goal. Firms included in the underwriting pool can potentially serve in the capacity of Senior, Co-Senior, or Co-Managing underwriter.
On November 2, 2023, the City advertised a request for qualifications for debt underwriting firms. In response, the City received thirty-six proposals. Underwriting firms were evaluated on criteria including, experience, performance, innovative structuring and marketing ideas, capital position, distribution capabilities, and commitment to Dallas and Texas bond transactions. The proposals were evaluated by a committee consisting of members from multiple bond-issuing departments, including the Department of Aviation, Office of Budget, and the City Controller's Office. Following review of th...
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