Agenda

Return

C. 87

To:	Board of Supervisors
From:	David Twa, County Administrator
Date:	June 21, 2016

Contra

Costa

County

Subject:

Disclosure Counsel Contract

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 06/21/2016

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

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

ABSENT:

John Gioia, District I Supervisor

Contact:

Timothy Ewell, (925) 335-1036

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: June 21, 2016
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPROVE and AUTHORIZE the County Administrator, or designee, to execute a contract with Schiff Hardin LLP in an amount not to exceed $150,000 for bond disclosure counsel services for the period of July 1, 2016 through June 30, 2019.

FISCAL IMPACT:

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 was selected.

BACKGROUND: (CONT'D)

Schiff Hardin LLC has provided excellent disclosure services to the County in the issuance of and sale of the County’s periodic lease revenue bond and pension obligation 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.

CHILDREN'S IMPACT STATEMENT:

No impact.