IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
A RESOLUTION expressing the desire of the Legislature that the County proceed with the refunding of the County's Series 2014 Special Obligation Refunding Bonds (Harry S. Truman Sports Complex) and extend the contract with Stifel, Nicolaus & Co., Inc., of Kansas City, MO, for municipal financial advisory services through September 11, 2022.
Intro
RESOLUTION NO. 20846, December 13, 2021
INTRODUCED BY Dan Tarwater III, Theresa Cass Galvin, and Jalen Anderson, County Legislators
Body
WHEREAS, by Resolution 20105, dated March 11, 2019, the Legislature awarded a twelve-month term and supply contract, with two twelve-month options to extend, for the furnishing of financial advisory services for use by the County to George K. Baum and Co. (Baum) under the terms and conditions of Request for Qualifications 66-18; and,
WHEREAS, Resolution 20500, dated September 21, 2020, authorized an addendum/extension to this contract, which had been subsequently assigned by Baum to its successor firm, Stifel, Nicolaus & Co., Inc., of Kansas City, MO (Stifel), to be effective as of September 28, 2020, and to remain in effect until September 11, 2021, unless further extended by the parties for an additional one-year term; and,
WHEREAS, in September 2021 the Director of Finance and Purchasing extended the contract for a renewal term to expire December 31, 2021, a term less than the full extension authorized by Resolution 20500; and,
WHEREAS, on December 9, 2021, the Director extended the contract again, until March 31, 2022; and,
WHEREAS, the Legislature's meeting of December 6, 2021, included a presentation by Michael Short and Matt Webster (Stifel); Douglas Coe (Moody Reid) - Co-Financial Advisors regarding a refunding opportunity for the Series 2014 Special Obligation Refunding Bonds (Harry S. Truman Sports Complex Project); and,
WHEREAS, this presentation projected that a net savings of $13 million upfront would...
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