HomeMy WebLinkAbout31- Public Works Fiie No . 14 .40-62
CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION
From: ROGER, G . HARDGRAVE �u'0.-�'�D = 1r . bject: Selection of Investment Banker
and Bond Counsel --Assessment
Dept: Public Works/Engineering District No . 985 , Improvement
of Industrial Parkway
Date: 2-04-88
or
Synopsis of Previous Council action:
10-06-87 -- City Engineer and City Clerk authorized to proceed with
the formation of an assessment district .
11-23-87 -- Expansion of scope of Assessment District No . 985 , to
include portions of Palm Avenue , between AT&SF Railroad
and Industrial Parkway , approved .
Recommended motion:
1 . That the recommendation by the property owners for the firms of
Stone & Youngberg and Best , Best & Kreiger be retained as Investment
Banker and Bond Counsel respectively , for Assessment District No .
985 , Improvement of Industrial Parkway, be accepted ; and the Director
of Public Works/City Engineer directed to present Agreements for these
services for approval at the Council Meeting of 3-07-88 .
--OR --
2 . That the Director of Public Works/City Engineer be directed to issue
Requests for Proposals for Investment Banker and Bond Counsel for
Assessment District No . 985 , Improve t of Industr ' 1 Parkway .
/AL
cc : Ray Schweitzer —
Craig Graves
Jim Penman
Contact person: Verne N a d e a u Phone: 5026
Supporting data attached: Staff R e p o r t Ward: 6
FUNDING REQUIREMENTS: Amount: N/A
Source: (Acct. No.) 251-659-53925
(Acct. Description) Improvement of Industrial
Parkway - Assessment District No . 985 Finance:
Council Notes:
75-0262 Agenda Item No.
CI? r OF SAN BERNARDI►,.d - REQUE..T FOR COUNCIL AC1 .ON
STAFF REPORT
A recommendation has been received from the property
owners within this assessment district that the firms of Stone
& Youngberg , and Best , Best & Kreiger , be retained as investment
banker and bond counsel . Both of these firms are large , well
established organizations that have provided services for us in
the past . In fact , both firms were recently interviewed for our
Central City South Project , and both were rated very high in this
selection process .
Section 2 . 20 , "Special Counsel Services , " of the Munici -
pal Code , sets forth the procedure for acquiring outside counsel
services . The first step is to obtain a recommendation from the
City Attorney that the retention of special counsel is necessary .
A memorandum , dated 2-1-88 , was sent to the City Attorney ' s
office inquiring if they have the capability to provide these
services .
All activities related to the formation of assessment
districts have historically been coordinated through the Engi -
neering Division . This arrangement has worked out very well .
However , the City Attorney has indicated that he would prefer
that retention and direction of the bond counsel be handled by
his office .
The property owners will be financing the costs incurred
for this proposed assessment district . For this reason , we
feel that acceptance of the consultants they recommend is
appropriate , provided that they are established firms of which
we have personal knowledge of their qualifications .
2-04-88