Report to Mayor and City Council
Tuesday, September 19, 2023
Consent
SUBJECT:
Title
CONSIDER APPROVING THE PROFESSIONAL CONTRACT SERVICES AGREEMENT WITH NBS GOVERNMENT FINANCE GROUP TO PROVIDE ANNUAL FINANCIAL DEBT SERVICES ADMINISTRATION AND REPORTING (CITY COUNCIL)
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I. SUMMARY
The City is seeking a professional consulting firm to provide the Annual Administration, Reporting, and Arbitrage Rebate Compliance Calculation Services. These services include but not limited to all necessary research documentation, exhibit preparation, legislative analysis, and attendance at staff meetings and/or public hearings required to levy all appropriate parcels accurately and efficiently.
Staff is requesting Council to approve the professional contract services Agreement with NBS. The Term of the contract to be awarded pursuant to the Agreement is for three (3) years. The total compensation for a three-year contract service, including reimbursement for actual expenses, shall not exceed Sixty Thousand Dollars ($60,000.00). The City may, at its sole discretion, elect to extend the Term by two (2) additional one-year terms and the total compensation for Services performed during each Extension Term shall not to exceed $20,000.00 subject to any CPI adjustments.
II. RECOMMENDATION
Recommendation
TAKE the following actions:
1. APPROVE the contract services Agreement with NBS Government Finance Group to provide the Annual Administration, Reporting, and Arbitrage Rebate Compliance Calculation Services for three (3) years with a three-year contract sum not to exceed sixty thousand ($60,000.00) dollars.
2. AUTHORIZE the Mayor to execute the contract, following approval as to form by the City Attorney.
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III. ALTERNATIVES
1. DO NOT APPROVE the Agreement.
2. TAKE another action as deemed appropriate by the City Council and consistent with the contract Agreement.
IV. BACKGROUND
The City had contracted two (2) different Consultants: (1) BLX ...
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