Report Prepared by: Venus Rodriguez, Finance Officer
Title
SUBJECT: Approval of a Legal Service Agreement for Bond Counsel and Disclosure Counsel with Jones Hall LLP
REPORT IN BRIEF
Considers approving the Legal Service Agreement with Jones Hall LLP to provide Bond and Disclosure Counsel services.
RECOMMENDATION
City Council - Adopt a motion:
A. Approving a Legal Service Agreement with Jones Hall LLP for Bond and Disclosure Counsel services; and,
B. Authorizing the City Manager to execute the necessary documents.
Body
ALTERNATIVES
1. Adopt the motion as recommended by staff; or
2. Modify the action (specify in motion); or
3. Deny the action.
AUTHORITY
Merced City Charter Section 200. Merced Municipal Code section 3.04.210 (exemption from competitive bidding).
CITY COUNCIL PRIORITIES
As provided for in the 2025-26 Adopted Budget.
DISCUSSION
To ensure the City is well-positioned in highly specialized matters such as municipal finance, staff recommends engaging outside counsel with the technical expertise needed to complement the City's financial initiatives.
It is staff's desire to retain bond and disclosure counsel to assist in the analysis, evaluation, and implementation of proposed financing programs that will or could come up in the near future to fund the costs of certain public improvements to meet the growing needs of the City. The Financing Program will potentially include issuance, sale, and delivery of new debt instruments from different financing transactions designed to provide funds in an aggregate principal amount sufficient to fund public improvements and purchase or lease equipment.
More specifically, the City desires to retain bond counsel and disclosure counsel to assist the City with potential refundings of its current debt portfolio and contemplated new debt financing, as well as the potential formation of future community facilities districts or other land-secured districts. The scope of work would include:
Bond Counsel: ...
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