Agenda

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C. 66

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

Contra

Costa

County

Subject:

Tax and Bond Counsel Contracts with Quint & Thimmig LLP

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 Quint & Thimmig LLP for tax and bond counsel services for the period of July 1, 2016 through June 30, 2019 as follows:
1) for Private Activity, Assessment District and Community Facilities District issues, in an amount not to exceed $500,000; and

2) for Tax Allocation Revenue Bond issues, in an amount not to exceed $250,000.

FISCAL IMPACT:

The cost of tax and bond counsel 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 Tax and Bond Counsel Services. After review by Debt Affordability Advisory Committee (DAAC) and firm interviews, Quint & Thimmig LLP was recommended to the County Administrator for consideration of a contract award to provide bond and tax counsel services to the County for Private Activity Bond, Assessment and Community Facilities District and Tax Allocation Revenue Bond issues for the period July 1, 2016 through June 30, 2019.

Quint & Thimmig has provided excellent bond counsel services to the Department of Conservation and Development (the "DCD") in the issuance of and sale of bond issues. The firm is extremely familiar with County policy and DCD's outstanding bond issues. The firm has proven to be an invaluable resource to staff responsible for the ongoing management of the Community Development Bond Program.

CONSEQUENCE OF NEGATIVE ACTION:

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