Title
Approve and authorize the Contracts/Purchasing Officer or designee to execute a Renewal and Amendment 3 to Agreement with KNN Public Finance LLC, for provision of on-call municipal advisory and transactional services, replacing Exhibit B-2 Fee Schedule with Exhibit B-3, and, extending the term by one year retroactive to March 10, 2025 through March 11, 2026, with no increase in maximum of $200,000.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors approve and authorize the Contracts/Purchasing Officer or designee to execute a Renewal and Amendment 3 to Agreement with KNN Public Finance LLC, for provision of on-call municipal advisory and transactional services, replacing Exhibit B-2 Fee Schedule with Exhibit B-3, and, extending the term by one year retroactive to March 10, 2025 through March 11, 2026, with no increase in maximum of $200,000.
SUMMARY/DISCUSSION:
KNN is an independent municipal advisory firm, registered as a Municipal Advisor with both the Municipal Securities Rulemaking Board (MSRB) and U.S. Securities and Exchange Commission (SEC). KNN provides the County with independent, objective analysis and advice to support the County in making informed decisions about its debt and capital programs. The County has maintained the agreement with KNN for on-call services related to debt analysis, bond and financing consultations, transactional analysis, and other services related to debt and financing. The proposed Renewal and Amendment 3 extends the term of the agreement through March 11, 2026, and updates the fee schedule, with no increase to the contract amount of $200,000.
Board authorization is being sought as this Renewal and Amendment 3 is retroactive to March 10, 2025.
OTHER AGENCY INVOLVEMENT:
The Office of the County Counsel has reviewed and approved the proposed amendment as to form.
FINANCING:
There is no budgetary impact to the FY 2024-25 Adopted Budget resulting from the approval of the recommended action. ...
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