FIN 2017-10-17 Item 2C - Contract Amendment - Financial Advisor with PFM Financial Advisors

Browse Search

• Identify key bond covenant features and advise as to the financial consequences of provisions to be included in bond resolutions regarding security, creation of reserve funds, flow of funds, redemption provisions, additional parity debt tests, etc.; review and comment on drafts of documents relating to authorization of financing. • Review the requirements and submit analysis to bond insurers, rating agencies and other professionals as they pertain to the City's obligation. • Review the terms, conditions and structure of any proposed debt offering undertaken by the City and provide suggestions, modifications and enhancements where appropriate and necessary to reflect the constraints or current financial policy and fiscal capability. • Coordinate with City's staff and other advisors as respects the furnishing of data for offering documents, it being specifically understood that Financial Advisor is not responsible for the inclusion or omission of any material in published offering documents. • Provide regular updates of tax-exempt bond market conditions and advise the City as to the most advantageous timing for issuing its debt. • Advise the City on the condition of the bond market at the time of sale, including volume, timing considerations, competing offerings, and general economic considerations. • Assist and advise the City in negotiations with underwriters regarding fees, pricing of the bonds and final terms of any security offering, and make in writing definitive recommendations regarding a proposed offering to obtain the most favorable financial terms based on existing market conditions. • Assist the City in selecting an underwriter for a negotiated sale of bonds. Review and oversee the Underwriter's bond marketing plan, review the interest rates, reoffering yields, Underwriter's compensation and other terms and conditions of the sale, and advise the City on the reasonableness of the Underwriter's purchase proposal. • For any competitive sale of bonds, prepare official notice of sale, recommend sale parameters, take steps necessary to ensure broad market exposure of the issue, through the use of newswire services and official statement distribution, and perform additional steps necessary and customary for competitive bond sales. • Coordinate parties to the closing, and ensure wire instructions and transfer amounts are confirmed. • Review (or upon request, prepare) Preliminary Official Statements and final Official Statements prepared on behalf of the City for use in marketing any bonds and meeting regulatory requirements. Other PFM Services. Upon request of the City and subject to separate, mutually acceptable fee structures PFM or its affiliates may provide other services which may include the following: a. Impact fee financial analysis b. Grantsmanship c. Rate analysis d. Management analysis e. Referendum assistance f. Legislative initiatives g. Project assessment analysis h. Implementation of revenue enhancement programs i. Arbitrage and rebate services j. Financial analysis of projects being developed by engineer/ architect / specialized consultant studies k. Negotiate on behalf of the City for proposed projects 1. Services for acquisition of Private Utility m. Public -Private Partnership advisory services n. Investment of bond proceeds, including escrow structuring and procurement o. Arbitrage rebate and post -issuance compliance CA Revised 1-2013 Page 6 of 9 44