DATE: June 25, 2024
TO: Mayor and City Council
FROM: Director of Public Works
SUBJECT
Title
Adopt a Resolution Authorizing the City Manager to Negotiate and Execute a Professional Services Agreement (PSA) with NHA Advisors LLC for Municipal Advisory Services in an Amount Not-to-Exceed $90,000 for the Water Resource Recovery Facility (WRRF) Improvements - Phase II Project
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RECOMMENDATION
Recommendation
That Council adopts a resolution (Attachment II) authorizing the City Manager to negotiate and execute a Professional Services Agreement (PSA) with NHA Advisors LLC (NHA Advisor) for Municipal Advisory Services in an Amount Not-to-Exceed $90,000 for the Water Resource Recovery Facility (WRRF) Improvements - Phase II Project.
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SUMMARY
Pursuing municipal bonds requires information and documents demonstrating the borrower’s financial creditworthiness. City’s financial advisor typically prepare these required documents since the documents involve in-depth financing strategies and credit rating analysis of the Wastewater Enterprise Fund. Staff recommends that Council authorizes the PSA with NHA Advisors in an amount not-to-exceed $90,000, for the preparation of the municipal bond documents and municipal advisory services for the Water Resource Recovery Facility (WRRF) Improvements - Phase II Project.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution