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REQUEST FOR CITY COUNCIL AGENDA ITEM <br />Appropriation <br />Agenda Date Requested:December 14, 2020 <br />Source of Funds:N/A <br />Requested By:Michael Dolby, Director <br />Department:Finance <br />Account Number:N/A <br />Amount Budgeted:N/A <br />ReportResolutionOrdinance <br />Amount Requested:N/A <br />Exhibits:Financial advisor agreement-draft, financial <br />Budgeted Item:YesNo <br />advisoragreement draft (RL), G-42 Disclosure letter <br />for Municipal Advisor Clients, evaluation summary <br />SUMMARY& RECOMMENDATION <br />The City of La Porte Finance Department staff published aRequest for Proposal (RFP) <br />for a financial advisoron June 11, 2020 and June 18, 2020. The RFPs were opened <br />on June 30, 2020, and staff received five (5) respondents. The evaluation committee <br />reviewed the proposals and selected RBC Capital Marketas the best value for <br />providing financial advisory services to the City. <br />A financial advisor provides the financial expertise of analyzing and structuring the <br />current debt and any future debt of the City. They develop plans for issuance of debt, <br />adviceof current market conditions, organizeand coordinate the financing team, they <br />work with bond counsel to prepare the bond proceedings, and coordinate the process <br />of working with rating agencies. <br />Currently, the City of La Porte utilizes the financial advisory services of RBC Capital <br />Market and has a great working relationship with them and staff recommends City <br />Council approving the agreement with RBC Capital Market to continue to provide <br />financial advisory services to the City of La Porte. <br />ACTION REQUIRED BY CITY COUNCIL <br />Approvean agreement with RBC Capital Marketto provide financial advisory <br />services to the City of La Porte. <br />Approved for the City Council meeting agenda <br /> <br />