Agenda

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C. 65

To:	Board of Supervisors
From:	John Kopchik, Director, Conservation & Development Department
Date:	October 18, 2016

Contra

Costa

County

Subject:

Disclosure Counsel Contracts with Schiff Hardin LLC

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 10/18/2016

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Mary N. Piepho, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:

Kristen Lackey (925) 674-7888

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: October 18, 2016
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPROVE and AUTHORIZE the Conservation and Development Director, or designee, to execute two contracts with Schiff Hardin LLP for bond disclosure counsel services for the period July 1, 2016 through June 30, 2019 as follows:
1) for Private Activity Bond, Assessment District and Community Facilities District issues, an amount not to exceed $70,000; and

2) for Tax Allocation Revenue Bond issues, an amount not to exceed $50,000.

FISCAL IMPACT:

100% Special Revenue Funds. The cost of bond disclosure services is covered in the cost of issuance included in each bond issue. Fees are negotiated for each borrowing transaction based upon the size and complexity of the transaction.

BACKGROUND:

On April 4, 2016, the County issued a Request for Proposals (RFP) for Bond Disclosure Counsel Services. After review by committee and firm interviews, Schiff Hardin LLC was selected.

Schiff Hardin LLC has provided excellent disclosure services to the County in the issuance of and sale of the County's periodic bond issues. The staff assigned is extremely familiar with the County and are able to prepare the required legal and other documents related to these issues with a minimum of time. They are also familiar with the County's outstanding bonds and have proven to be an invaluable resource to staff responsible for the ongoing management of the County's debt.

CONSEQUENCE OF NEGATIVE ACTION:

The County would not have legal representation on County bond disclosure issues.