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City of Colton <br />AGENDA REPORT <br />For Council Meeting of August 18, 1992 <br />TO: Honorable Mayor and City Council <br />FROM: Mark E. Lewis, City Manager Mea— <br />SUBJECT: <br />Selection of Financial Advisors <br />Background <br />The City's Administrative Financing Team, consisting of the City Treasurer, the Finance Director, and <br />myself, issued a request for proposal for financial advisory services on June 18, 1992. Nine firms <br />responded. <br />Discussion <br />The proposals were opened on July 20, 1992. The proposals were evaluated by each member of the <br />Financing Team. <br />Recommendation <br />The City's Financing Team respectfully recommends the selection of two financial advising firms, Evensen <br />Dodge Inc. and O'Brien Partners Inc. for a period estimated to be three years. The fee structure for <br />Evensen Dodge Inc. calls for a transaction fee based on each financing with expenses to be reimbursed <br />at their costs. These fees are payable upon closing of the financing. The fees for O'Brien Partners will <br />be based on hourly rates for professional advisory services, reimbursement for expenses, and a fee based <br />on each financing. The Team is satisfied with the fee arrangements with each firm. <br />