AGENDA CAPTION:
Title
Consider approval, by motion, of Authorization of Change in Services No. 1, with BLX Group, LLC for the provision of Arbitrage Rebate Compliance Services, in the not to exceed amount of $24,250.00, extending the services through July 31, 2018; and increasing the total contract amount to $50,000.00.
Body
Meeting date: November 8, 2017
Department: Finance
Funds Required: $24,250
Account Number: Professional Services in all bond accounts in all funds
Funds Available: $24,250
Account Name: Professional Services
CITY COUNCIL GOAL: Maintain Fiscal Responsibility
COMPREHENSIVE PLAN ELEMENT(s): N/A
BACKGROUND:
The City is required to comply with the IRS code on Arbitrage calculation and reporting for City debt issuance.
The City is currently under contract with BLX for professional Arbitrage Rebate Compliance Services. This contract was signed in February 2017 to perform the Arbitrage services for fiscal year 2016 and this change in service will extend the contract to include services for fiscal year 2017. During fiscal year 2018, staff will issue an RFP for arbitrage services and will bring back a contract for approval to award the services for future fiscal years.
Staff is requesting consideration of approval of Authorization Change in Services (ACIS) No. 1 to extend the services through 07/31/18 and increase the contract by $ 24,250.