Title
Resolution to Approve a Five-Year Agreement with Dykema Gossett PLLC for Bond and Disclosure Counsel Services, and General Municipal Finance Advice
Memorandum
Attached for your review and approval is a resolution to approve a five-year agreement with Dykema Gossett PLLC for bond and disclosure counsel services, and general municipal finance advice. The agreement gives the City the option to renew for up to two additional five-year periods at the City's sole option.
The City issued RFP 19-18 to solicit proposals from law firms to act as the City's bond and disclosure counsel on its bond issuances (both current and future). 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 responses to the RFP and determined that Dykema Gossett PLLC was the best qualified to provide the services at a fair and reasonable price.
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 Dykema's services for general municipal finance advice services would be subject to availability of funds.
Staff
Prepared by: Betsy Blake, Senior Assistant City Attorney
Reviewed by: Stephen Postema, City Attorney
Approved by: Tom Crawford, Interim City Administrator
Body
Whereas, Dykema Gossett PLLC ("Dykema") 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 issued RFP 19-18 to solicit proposal from public finance law firms to act as the City's bond and disclosure counsel on past and future bond issuances;
Whereas, Three law firms responded to such RFP and Dykema was the best qualified to provide such services at a fair and reasonable price;
Whereas, Staff r...
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