Broken Arrow City Council
Meeting of: 06/04/2018
Title:
title
Approval of 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
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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
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: Legal Service Agreement.
Recommendation:
recommend
Approve and authorize execution of Legal Service Agreement with Kiser Law Firm, PLLC
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