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 Financial Services Agreement with Municipal Finance Services, Inc. for services related to the approval and issuance of General Obligation Bonds
End
Background:
The City of Broken Arrow has utilized the services of Municipal Finance Services, Inc. (“MFS”) on its debt issuances. MFS has submitted a proposed Financial Services Agreement for services to the City pertaining to the approval and issuance of general obligation bonds in the amount of $30,000.00 plus expenses of $2,000.00 for each series of bonds issued. 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: $30,000.00 plus reimbursement of expenses of $2,000.00
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: Financial Services Agreement with Municipal Finance Services, Inc.
Recommendation:
Approve Financial Services Agreement with Municipal Finance Services, Inc. and authorize its execution.