Title
Authorizing the Interim City Manager to execute a professional services agreement with Post Oak Municipal Advisors, LLC.
Summary
The City began working with Terrell Palmer in 2013 for financial advisory and consultation services. In March 2018, Mr. Palmer left Hilltop Securities and opened the firm Post Oak Municipal Advisors. Mr. Palmer has over 30 years of public finance experience and has worked with various municipalities covering all areas of municipal finance. As Mr. Palmer and his staff are familiar with the city and its financial structure, we believe Post Oak Municipal Advisors will be a valuable partner to the City. Mr. Palmer will attend this meeting.
The City Attorney has reviewed the attached agreement for financial advisory services.
This item was considered by the City Council on May 8, 2018 and no action was taken.
Deadline for City Council Action
Action is requested on June 26, 2018.
Fiscal Impact
There is no current fiscal impact as municipal financial advisor fees are associated with the issuance of bonds and would be included with the proceeds of the bonds.
Staff Recommendation
Authorize a professional services agreement with Post Oak Municipal Advisors, LLC, and authorizing the Interim City Manager to execute said agreements.
Drafter
Lauri Gillam
Assistant City Manager