Broken Arrow Economic Development Authority
Meeting of: 06/16/2025
Title:
title
Approval of and authorization to execute a Global Financial Professional Services Agreement with Municipal Finance Services
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Background:
Municipal Finance Service Inc. (MFS) has been our financial advisors since 1993. Currently MFS, through the staff, have presented individual contracts to Council or Authority for approval for each loan or service MFS provides. MFS and staff are proposing a global financial contract that would be effective for one year and would cover any services that MFS may assist the City with to include but not limited to:
1. Evaluate options or alternatives with new issues or loans.
2. Assist the City in preparation of loan application, offering documents, notices of sales and the official statement.
3. Evaluate potential refunding opportunities
Payment for all fees and expenses shall be made at closing from proceeds of the Issue or from other available funds of the City and shall be contingent upon closing of the Issue.
One additional service included in the global agreement for a flat fee of $3500.00 is the Continuing Disclosure Assistance. MFS will assist the City annually in preparing and uploading financial information to the Electronic Municipal Marketplace Access system. (EMMA).
Cost: Varies with issuance and service.
Funding Source: Loan proceeds and General Fund for other services
Requested By: Cynthia S. Arnold, Finance Director
Approved By: City Manager’s Office
Attachments: Municipal Finance Services Inc. Agreement for FY 26
Recommendation:
recommend
Approve Municipal Finance Service Agreement and authorize its execution
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