Title
Resolution to Approve an Agreement with Miller Canfield Paddock and Stone PLC for Bond and Disclosure Counsel Services, and General Municipal Finance Advice
Memorandum
Attached for your review and approval is a resolution to approve an agreement with Miller Canfield Paddock and Stone, PLC (Miller Canfield) for bond and disclosure counsel services, and general municipal finance advice, through June 30, 2028 (Agreement). The Agreement contains an option to renew for up to two additional five-year periods at the City’s sole option.
The City solicited proposals from three law firms to act as the City’s bond and disclosure counsel and to provide general municipal finance advice. Such legal services are highly specialized and most cities contract for outside legal counsel to ensure bond issuances and related disclosure are done in accordance with applicable law. The City received three proposals, conducted interviews with counsel from each firm, and determined that Miller Canfield is the best qualified to provide the services required by the City.
Budget/Fiscal Impact: The cost for the bond counsel services are budgeted in and paid from bond proceeds, either at closing or from disbursement of the proceeds, so no budget impact is anticipated. Any other use of Miller Canfield’s services for general municipal finance advice services would be subject to availability of funds.
Staff
Prepared by: Michelle Landis, Senior Assistant City Attorney
Reviewed by: Atleen Kaur, City Attorney
Approved by: Milton Dohoney Jr., City Administrator
Body
Whereas, Miller Canfield is a law firm providing bond and disclosure counsel, and general municipal finance advice services, which the City requires from time to time;
Whereas, The City solicited proposals from three public finance law firms to act as the City’s bond and disclosure counsel;
Whereas, After review of the firms’ proposals and interviews of attorneys, Miller Canfield was selected as the best qualified to provide such services at a fair and reasonable price;
Whereas, Staff recommends that Council approve the attached Agreement with Miller Canfield for bond and disclosure counsel services, and general municipal finance advice, with the option to renew for up to two additional five-year periods at the City’s sole option;
Whereas, Funding for bond and disclosure counsel services shall be paid out of bond proceeds and any other municipal finance services will be allowed only to the extent sufficient funding is available; and
Whereas, Miller Canfield complies with the requirements of the City’s Non-discrimination and Living Wage ordinances;
RESOLVED, That City Council approve the attached Agreement with Miller Canfield for bond and disclosure counsel services, and general municipal finance advice services, through June 30, 2028 with the option to renew for up to two additional five-year periods at the City’s sole option;
RESOLVED, That the Mayor and City Clerk be authorized and directed to execute said Agreement after approval as to substance by the City Administrator and approval as to form by the City Attorney; and
RESOLVED, That the City Attorney be authorized to take all necessary actions to implement this resolution including execution of any authorized renewals and any changes or amendments where sufficient funding is available.