Purchasing Type: Change Order (CO)
Public Hearing: YES ☐ NO ☒ Department: Purchasing & Contracting
AGENDA ITEM:
Title
Commission District(s): ALL
CO - Change Order No. 1 to Contract No. 1310425 Financial Advisory Services (3 Year Multiyear Contract with 2 Options to Renew): for use by the Finance Department. This contract consists of providing financial advisory services and acting as the County’s municipal advisor. This request seeks to ratify a previously provided contract term increase. This request also seeks to extend the contract term through June 30, 2026. Recommend award to Public Financial Management Inc. dba PFM Financial Advisors, LLC. CONTRACT TERM INCREASE ONLY.
Body
Information Contact: Michelle Butler, Chief Procurement Officer
Phone Number: (404) 687-3581
PURPOSE:
Awarded by the BOC on November 8, 2022, for an amount not to exceed $1,664,500.00. This contract consists of providing financial advisory services in connection with various financing transactions and programs and acting as the County’s “municipal advisor” as outlined by the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) and the Securities and Exchange Commission’s Rule 15bA-1 (the “Municipal Advisor Rule”). This request seeks to ratify a previously provided contract term increase. This request also seeks to extend the contract term through June 30, 2026. Lastly, this request will ensure there is no lapse in service as a new solicitation continues in the evaluation phase.
RECOMMENDATION:
Recommended Action
Recommend approval of Change Order No. 1 with:
Public Financial Management Inc. dba PFM Financial Advisors LLC, 1735 Market Street, 42nd Floor, Philadelphia, PA 10103
and authorize the Chief Executive Officer to execute the change order and all associated documents.
ADDITIONAL INFORMATION:
1. Contract Effective Date: November 10, 2022
2. Contract Expiration Date: February 28, 2026
3. Amount Spent To Date: $878,198.82
4. Funding: General (Finance)