Broken Arrow City Council
Meeting of: 06/04/2018
Title:
title
Approval of Financial Services Agreement with Municipal Finance Services, Inc. for services related to the approval and issuance of General Obligation Bonds
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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 plus expenses of $2,000 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 plus reimbursement of expenses not to exceed $2,000
Funding Source: Proceeds from sale of future GO Bonds
Requested By: Cynthia S. Arnold
Approved By: Russell Gale, Assistant City Manager
Michael L. Spurgeon, City Manager
Attachments: Financial Service Agreement with Municipal Finance Services
Recommendation:
recommend
Approve and authorize execution of Financial Service Agreement with Municipal Finance Services
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