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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: AUl!ust 23. 2010 <br /> <br />Appropriation <br /> <br />Department: FIN A NeE <br /> <br />Source of Funds: <br />Amount Budgeted: <br />Amount Requested: <br /> <br />Requested By: Mil'hllel nolhy, Finllnl'e nirel'tor <br /> <br />Report: <br /> <br />Resolution: <br /> <br />Ordinance: xx <br /> <br />Budgeted Item: <br /> <br />Exhibits: Contract <br /> <br />Exhibits: <br /> <br />Exhibits: <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />The City recently issued debt during the spring 2010 and RBC Capital Markets served as our <br />Financial Advisors. They assisted the city in saving $371,000 and La Porte Water Authority <br />$314,685 dollars in future debt service payments. . Furthermore, during our recent debt issues, <br />RBC Capital Markets reduced their contracted service fees by $39,680 dollars. <br /> <br />The City appreciates the size of the firm, and the qualifications and availability of professional <br />personnel assigned to assist us with bond issuance, and the success the firm has achieved with <br />innovative and creative financing <br /> <br />On August 6, 2010, the Water Authority met and ratified an April agreement with RBC and <br />approved a new agreement with RBC Capital Markets. <br /> <br />Action Required bv Council: <br /> <br />Approve agreement for the City with RBC Capital Markets for financial advisory services and <br />a e LAPAWA ratification of existing agreement with RBC and adoption of new agreement <br />etwe n LAPAWA and RBC. <br /> <br /> <br />enda <br /> <br />0/t"l [0 <br /> <br />Date <br />