Title
Resolution approving the services of three underwriting firms: Stifel as Senior Manager, and Citi and Raymond James as Co-Managers for the Measure W Community Civic Campus project financing, and authorizing the City Attorney to retain bond and disclosure counsel.
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WHEREAS, in November 2015, the voters of South San Francisco approved Measure W a 1/2 Cent Sales Tax; and
WHEREAS, the planned Community Civic Campus project will be funded by the Measure W 1/2 Cent Sales Tax; and
WHEREAS, an estimated $115 million of the Community Civic Campus project funding will be thorough the issuance of either lease revenue bonds or certificates of participation; and
WHEREAS, the City of South San Francisco ("the City") issued a Request for Proposals for firms to provide underwriting services as part of the issuance of bonds for the Community Civic Campus financing; and
WHEREAS, on April 22, 2019, the City received underwriting proposals from 11 firms and five firms were shortlisted and invited for interviews; and
WHEREAS, City staff conducted interviews for the five shortlisted firms on May 16, 2019; and
WHEREAS, for bond issues it is standard practice to select a senior manager and co-manager(s) as part of the underwriting services: and
WHEREAS, based on the interviews, the City is selecting Stifel as Senior Manager, Citi as Co-Manager, and Raymond James as Co-Manager to provide underwriting services as part of the Community Civic Campus financing; and
WHEREAS, the City also issued a Request for Proposals for law firms to provide bond and disclosure counsel services as part of the issuance of bonds for the Community Civic Campus financing; and
WHEREAS, on April 22, 2019, the City received proposals from 9 firms and four firms were shortlisted and invited to participate in phone interviews; and
WHEREAS, City Attorney staff conducted phone interviews and based on their proposal, experience and interview, recommends retaining the law firm of Stradling, Yoc...
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