Subject:
Title
First Amendment to the Agreement with Bryant Miller Olive P.A. for Bond Counsel services.
label
Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the First Amendment to the Agreement with Bryant Miller Oliver P.A. (BMO) for bond counsel services.
• This contract provides legal representation on behalf of the County for bond counsel services and public financing matters as directed by the County Attorney on an as needed basis.
• The First Amendment extends the contract for five years through September 30, 2025.
• An increase to the contract is not required as unused funds from the original Agreement will be carried forward.
• On May 24, 2016 the Board of County Commissioners approved the award of this contract.
Contract No.145-0293-P(LN) in the amount of $500,000.00 through September 30, 2025 for an estimated annual expenditure of $55,555.56 over nine years. This amendment has no fiscal impact on the contract value originally awarded in 2016 as sufficient funding remains on the contract.
Body
Strategic Plan:
Deliver First Class Services to the Public and Our Customers
5.2 Be responsible stewards of the Public’s Resources
Summary:
Approval of this amendment extends the contract five (5) years through September 30,2025. The original agreement expires September 30, 2020 and contains two (2) twelve (12) month term extensions. This amendment modifies the term extension to a five (5) year term. BMO is a well experienced firm that has served the County well and extending the contract five (5) years is judicious.
Background/Explanation:
The Board of County Commissioners approved the award on May 24, 2016.
This contract provides guidance for concerns that arise related to state law and federal tax matters, renders opinions on outstanding bond issues, and prepares revenue ruling requests from the United States Internal Revenue Service
Fiscal Impact:
This amendment has no fiscal impact on the contract value originally awarded in 2016.
Total estimated expenditure not to exceed: $500,000.00
Estimated annual expenditure: $ 55,555.56
Funding is anticipated to be derived from Sewer Revenue Operating Fund, Water and Sewer Administration Center, Sewer Program, or other cost centers for which bonds are issued.
Delegated Authority:
Authority for the County Administrator to approve and execute this First Renewal and Amendment is granted under Code Section 2-62 (a)(2).
Staff Member Responsible:
Jewel White, County Attorney
Don Crowell, Chief Assistant County Attorney
Merry Celeste, Division Director, Risk Management and Purchasing, Administrative Services
Partners:
N/A
Attachments:
First Amendment