STRATEGIC PRIORITY: Government Performance and Financial Management
AGENDA DATE: December 8, 2021
COUNCIL DISTRICT(S): N/A
DEPARTMENT: City Controller's Office
EXECUTIVE: Elizabeth Reich
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SUBJECT
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A resolution authorizing payment for previously contracted professional services of Norton Rose Fulbright US LLP and Kintop Smith, PC as co-disclosure counsel in connection with the sale and delivery of the Waterworks and Sewer System Commercial Paper Notes, Series F and Waterworks and Sewer System Commercial Paper Notes, Series G - Not to exceed $239,132 - Financing: Dallas Water Utilities Fund
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BACKGROUND
On June 9, 2021, City Council authorized ordinance nos. 31886 and 31887 approving and authorizing the issuance by the City of Dallas of its Waterworks and Sewer System Commercial Paper Notes, Series F and Waterworks and Sewer System Commercial Paper Notes, Series G, in an aggregate principal amount at any one time outstanding not to exceed $600,000,000 to provide interim financing to pay project costs for eligible projects and to refund obligations issued in connection with eligible projects. For matters incident and related to the issuance, sale, security, and delivery of such Commercial Paper Notes, the use of previously contracted professional legal services was required of the City's Co-Disclosure Counsel, Norton Rose Fulbright LLP and Kintop Smith, PC, which were not included in the approved estimated cost of issuance fees.
The use of Co-Disclosure Counsel for bond and debt issuances is imperative to maintain compliance with U.S. Securities and Exchange Commission rules and regulations. Approval of this resolution will authorize the payment of the Co-Disclosure Fees as reflected in Schedule I.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On June 25, 2014, City Council authorized the issuance of the City of Dallas, Texas Waterworks and Sewer System Series E short term ob...
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