Broken Arrow City Council
Meeting of: 10-18-16
To: Mayor and City Council
From: Finance Department
Title:
title
Approval of and authorization to execute a Legal Services Agreement with Kiser Law Firm, PLLC for services related to the approval and issuance of General Obligation Bonds in one or more series
End
Background:
The City of Broken Arrow has utilized the services of Kiser Law Firm, PLLC (“Kiser Law”) on its debt issuances. Kiser Law 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. Kiser Law’s proposed fee is for $30,000 plus direct expenses per issue authorized pursuant to a single election, plus an additional $15,000 for combined issues per additional election authorizations, plus reimbursement of expenses. These fees are contingent and payable only upon the successful passage of the bond issue and the actual closing of a bond transaction. Staff recommends the approval of this agreement.
Cost: $30,000 plus expenses estimated not to exceed $2,000
Prepared By: Thomas L. Caldwell, Finance Director
Reviewed By: Legal Department
Russell M. Gale, Assistant City Manager-Administration
Approved By: Michael L. Spurgeon, City Manager
Attachments: Legal Services Agreement
Recommendation:
Approve Legal Services Agreement with Kiser Law Firm, PLLC and authorize its execution.