Broken Arrow City Council
Meeting of: 10-18-16
To: Mayor and City Council
From: Finance Department
Title:
title
Ratification of a Disclosure Counsel Agreement with Hilborne & Weidman, a Professional Corporation for services related to the approval and issuance of General Obligation Bonds in one or more series
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Background:
The City of Broken Arrow desires to utilize the services of Hilborne & Weidman, A Professional Corporation (“Hilborne”) to serve as Disclosure Counsel on its 2016D General Obligation Bonds. These services would include assisting in the preparation of the Preliminary and Final Official Statements and the review of the material contained therein. This will assist the City in ensuring the required disclosures are included in the Official Statements. Hilborne has submitted a proposed Legal Services Agreement for services to the City pertaining to the approval and issuance of general obligation bonds in one or more series. The proposed fee is for $15,000 plus direct expenses. These fees are contingent and payable only upon the offer and sale of the bonds.
Staff recommends the ratification of this agreement.
Cost: $15,000 plus expenses
Prepared By: Thomas L. Caldwell, Finance Director
Reviewed By: Legal Department
Russell M. Gale, Assistant City Manager of Administration
Approved By: Michael L. Spurgeon, City Manager
Attachments: Disclosure Counsel Agreement
Recommendation:
Ratify the Disclosure Counsel Agreement with Hilborne & Weidman, A Professional Corporation.