Title
Approving a professional services agreement with C. Terrell Palmer, First Southwest, for financial advisory services and authorizing the City Manager to execute the agreement.
Summary
The City of Pflugerville staff has been evaluating the scope of financial advisory services that would be of the most benefit to the City at this time. After evaluating several firms, staff is recommending Mr. C. Terrell Palmer and First Southwest. City staff has worked with First Southwest for several years on various financial projects including the utility fund pro forma and analyses of various water supply alternatives. Mr. Palmer and his staff are familiar with the city and its financial structure and will be a valuable partner.
The City Attorney has reviewed the attached agreement for financial advisory services.
Deadline for City Council Action
The September 10, 2013 City Council agenda will include a Notice of Intent to issue bonds related to the economic development agreements with Hawaiian Falls. Approving this professional services agreement tonight allows staff time to work with Mr. Palmer on this issuance.
Fiscal Impact
The fiscal impact will be associated with the issuance of bond debt and will be included with the proceeds of the bonds.
Staff Recommendation
Approve the professional services agreement with C. Terrell Palmer, First Southwest, for financial advisory services and authorize the City Manager to execute the agreement.
Drafter
Lauri Gillam
Assistant City Manager