Dallas Logo
File #: 20-34    Version: 1 Name:
Type: CONSENT AGENDA Status: Agenda Ready
File created: 12/18/2019 In control: City Attorney's Office
On agenda: 1/22/2020 Final action:
Title: Authorize an amendment to the bond counsel contract with Norton Rose Fulbright US LLP, to add disclosure counsel services, in accordance with the hourly rates and opinion fees as set forth in Attachment A of the resolution - Financing: Disclosure Counsel fees to be paid from bond proceeds, General Fund, Aviation Funds, Convention Center Funds, and/or Water Utilities Funds, contingent upon completion of each bond sale
Indexes: 300
Attachments: 1. Resolution, 2. Attachment A
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
No records to display.
STRATEGIC PRIORITY: Government Performance and Financial Management
AGENDA DATE: January 22, 2020
COUNCIL DISTRICT(S): N/A
DEPARTMENT: City Attorney's Office
EXECUTIVE: Christopher J. Caso
______________________________________________________________________
SUBJECT

title
Authorize an amendment to the bond counsel contract with Norton Rose Fulbright US LLP, to add disclosure counsel services, in accordance with the hourly rates and opinion fees as set forth in Attachment A of the resolution - Financing: Disclosure Counsel fees to be paid from bond proceeds, General Fund, Aviation Funds, Convention Center Funds, and/or Water Utilities Funds, contingent upon completion of each bond sale

body
BACKGROUND

The scope of services for this contract includes assisting City staff together with the financial advisor and bond counsel with disclosure services in connection with the issuance, sale and delivery of City obligations. One of the obligations that the City has as a municipal securities issuer is compliance with disclosure requirements under federal security laws and Securities and Exchange Commission (SEC) rules. Issuers of municipal bonds are obligated to ensure that the offering documents used in the offering of municipal bonds meet those requirements and are required to report annual financial information as well as notices of certain events that may affect their ability to repay the bonds. The City must file disclosure filings for all outstanding bond issues with the Municipal Securities Rulemaking Board (MSRB) through Electronic Municipal Market Access (EMMA). Substantially, all of the responsibilities under this contract will be performed by attorneys.

In 2014, through a competitive procurement process, the City of Dallas hired the Andrews Kurth Kenyon law firm to represent the City as disclosure counsel. In 2018, Orrick Herrington & Sutcliffe LLP ("Orrick Herrington"), was hired to serve as the City's interim disclosure counsel after all of the And...

Click here for full text