Agenda - Council - 10/10/2000 - Laserfiche WebLink

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-80- Studies and Analysis - Juran and Moody perform debt management studies and financial planning analyis free of charge. Springsted charges a per hour rate for ail services that are non-debt obligation related. 3) Personal Attention -The majority of Springsted's clients are large cities such as Maple Grove, Coon Rapids and Woodbury. Juran and Moody focus more on the smaller cities such as Andover, Chaska and Osseo. This may seem like a minor detail, but in recent negotiations with Springsted (who the City has currently used on its bond sales) it was apparent that Springsted considered us a minor player. By saying this, I am referring to the lack of staff updates and communication between the City and Springsted. A smaller firm representative, with smaller cities would most likely devote more personal attention to the City's projects and possibly even expedite important projects. Award of this contract for financial services does not eliminate Springsted Public Finance Advisors from negotiating with the City in future years. The City is, at this time, negotiating a one year agreement. At the end of the term, the City will examine the service offered from the finanical consultant and a recommendation will be made as to whether to continue with said financial institution for the following year. Staff Recommendation: Staff recommends that the award for financial consulting services be made to Juran and Moody, but will accept the recommendation of the Finance Committee based on their review of the Financial Consultants. COu n ell Action: 'h ~'/~") Motion to adopt attached Resolution #00-10-XXX Awarding Financial Advisory Services to Juran and Moody/or Consultant of Finance Committee choice. Reviewed By: City Administrator Finance Officer FC: 10/10/00