Agenda

Return

C. 99

To:	Board of Supervisors
From:	David Twa, County Administrator
Date:	June 18, 2019

Contra

Costa

County

Subject:

Extension of Disclosure Counsel Contract

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 06/18/2019

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V 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 18, 2019
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPROVE and AUTHORIZE the County Administrator, or designee, to execute a contract amendment with Schiff Hardin LLP, extending the term of the contract through June 30, 2021 with no change to the contract limit of $250,000 for bond disclosure counsel services.

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.

CONSEQUENCE OF NEGATIVE ACTION:

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

BACKGROUND:

On April 4, 2016, the County issued a Request for Proposals (RFP) for bond disclosure counsel services. The RFP contemplated a three-year contract cycle with an option to extend for an additional two-years. After review by committee and firm interviews, Schiff Hardin was selected to serve as disclosure counsel to the County.

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 quick turnaround time. The firm is 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.

On June 21, 2016, the Board of Supervisors approved a three-year contract with Schiff Hardin LLC with a term expiration of June 30, 2019. Today's action would extend the contract with Schiff Hardin LLC through June 30, 2021. The contractor has been meeting the expectations of the County in performing services under the contract.

CHILDREN'S IMPACT STATEMENT:

No impact.