AGENDA MEMORANDUM

 

 

MEETING DATE:   January 22, 2007

 

FROM:                        Bill Pfeilsticker, Finance Director

 

SUBJECT:                  Resolution authorizing execution of the

                                    (1) Scope of Services Agreement Attachment A from R.W. Beck, Inc. for Consulting Engineer’s /Financial Feasibility Report for Electric System Revenue Bonds Series 2007 not to exceed $29,500; and,

                                   

                                    (2) Scope of Services Agreement Attachment B from R.W. Beck, Inc. for Consulting Engineer’s /Financial Feasibility Report for Utility System Revenue Bonds Series 2007 not to exceed $85,000.         

 

 

Staff Recommendation: 

Staff recommends approval  of the Scope of Services Agreement Attachment A for not to exceed $29,500 and Attachment B for not to exceed $85,000 with R.W. Beck, Inc. for Consulting Engineer’s /Financial Feasibility Report.

 

Analysis:

This work is Phase II of the in-depth financial analysis of the Utility systems provided by R.W. Beck, Inc. and D.A. Davidson, Inc. R.W. Beck, Inc. will provide Consulting Engineer services and Financial Feasibility Reports required for the Electric System Series 2007 and the Utility System Series 2007 bond issues.  They will work cooperatively with D.A. Davidson and City staff to analyze current and projected financial status, utility revenues, and five-year projections of the adopted Capital Improvement Plan.  

 

The final work product will be Consulting Engineer’s Report / Feasibility Study for the proposed Electric System Series 2007 and Utility System Series 2007 bond issues, subject to Commission approval.  These reports will include an overview and general update of the City’s Electric Utility System and Utility System (Water, Wastewater, and Gas) Five-Year Capital Improvement Programs. They will include historical summaries and new five year projections similar to those contained in the Consulting Engineer’s Reports prepared prior to the 2004 bond issues. 

 

The contents of the reports are described in detail in the Scope of Services Attachments A and B.

 

Options:

1.  Adopt the resolutions as presented; or

2Such alternative action as the Commission may deem appropriate. 

 


Fiscal Impact

The City will be billed actual costs not to exceed $29,500 for the Electric System Revenue Bond Series 2007 and actual costs not to exceed $85,000 for the Utility System Revenue Bond Series 2007. All costs associated with the non-taxable bond issue are reimburseable from bond proceeds, if the bonds are issued.

 

Submission Date and Time:    1/18/07 10:07 AM____

Department: ______________________

Prepared by:  __________________                     

Attachments:  Yes____   No ______

Advertised:   ____Not Required ______                     

Dates:   __________________________                     

Newspapers:

_________________________________                                                     

_________________________________           

Revised 6/10/04

 

Reviewed by: Dept. Head ________

 

Finance  Dept. __________________                                     

                              

Deputy C.M. ___________________                                                                         

Submitted by:

City Manager ______RS_____________

 

Account No. __________________

 

Project No. ___________________

 

WF No. ______________________

 

Budget  ______________________

 

Available _____________________


 

RESOLUTION NO._______________

 

A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE SCOPE OF SERVICES ATTACHMENT A ELECTRIC SYSTEM REVENUE BOND SERIES 2007 NOT TO EXCEED $29,500 AND SCOPE OF SERVICES ATTACHMENT B UTILITY SYSTEM REVENUE BOND SERIES 2007 NOT TO EXCEED $85,000 WITH R.W. BECK, INC. TO PROVIDE ENGINEERING REPORTS AND FEASIBILITY STUDIES; AND PROVIDING AN EFFECTIVE DATE.

 

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

 

            THAT the Mayor and City Clerk are hereby authorized to execute (1) Scope of Services Attachment A Electric System Revenue Bond Series 2007 for not to exceed $29,500 and (2) Scope of Services Attachment B Utility System Revenue Bond Series 2007 for not to exceed $85,000 with R.W. Beck, Inc. whose address is 1000 Legion Place, Suite 1100, Orlando FL 32801, for Consulting Engineer’s Financial Feasibility Reports.

 

             THAT this resolution shall become effective immediately.

 

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the 22nd day of January 2007.

 

 

 

                                                                            __________________________

                                                                             Mayor

 

ATTEST:

 

 

__________________________

City Clerk