HomeMy WebLinkAbout2010-104-1286 - Agreement with Bryant Miller Olive P.A.
City of Miami Gardens Agenda Cover Memo Council Meeting Date: May 26, 2010 Item Type: (Enter X in box) Resolution Ordinance Other x Fiscal Impact: (Enter X in box) Yes No Ordinance Reading:
(Enter X in box) 1st Reading 2nd Reading x Public Hearing: (Enter X in box) Yes No Yes No X Funding Source: City Hall Bond Advertising Requirement: (Enter X in box) Yes No X Contract/P.O.
Required: (Enter X in box) Yes No RFP/RFQ/Bid #: x Sponsor Name City Manager and City Attorney Department: City Attorney/City manager Short Title: A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF MIAMI GARDENS, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AND ATTEST RESPECTIVELY THAT CERTAIN RETAINER AGREEMENT WITH THE LAW FIRM OF BRYANT, MILLER & OLIVE
TO SERVE AS DISCLOSURE COUNSEL WITH RESPECT TO THE ISSUANCE OF A $53,000,000 PUBLIC BUILDINGS BOND; PROVIDING FOR INSTRUCTIONS TO THE CITY CLERK; PROVIDING FOR THE ADOPTION OF REPRESENTATIONS;
PROVIDING AN EFFECTIVE DATE. Staff Summary: In order to undertake the City Hall project, it is necessary to commit to several significant expenditures. The will require a major, complicated
financing structure/bond issue for the costs of designing, building, equipping, etc. the new facility A public bond sale requires extensive diligence on the part of the City in order
to issue bonds, or in our case, Certificates of Participation. In addition to the bond counsel, the City is required to have disclosure counsel to satisfy issuance requirements. Jolinda
Herring of Bryant Miller and Olive has served in this capacity on prior Florida bond issues and is recommended to serve as disclosure counsel for the City Hall financing. The cost for
services will be 80% of the amount paid to the bond counsel. ITEM K-2) RESOLUTION Retainer Agreement w/Bryant Miller Olive, P.A.
1515 NW 167 Street, Building 5 Suite 200 Miami Gardens, Florida 33169 Proposed Action: That City Council approves the resolution appointing Jolinda Herring of Bryant Miller and Olive
as Disclosure Counsel. Attachment: Jolinda Herring Biography