Title: P3 Approve the direct negotiation for Financial Advisor.

Recommendation:

I recommend approval of the Public Financial Management, Inc contract for Financial Advisor  and authorize the Superintendent and Board Chairman to sign all necessary documents.

Description:

P3   Approve the direct negotiation for Financial Advisor.

• The financial advisor provides advice and recommendations to the District regarding the issuance of debt and other financing arrangements including COPS, Commercial Paper, Tax Anticipation Notes, Swaps, Leases, etc.
• Based on the historical performance of Public Financial Management, Inc. (PFM) over the last 5 years, as the District’s Financial Advisor, the District has direct negotiated this contract which is in compliance with DOE Rule  6A-1.012(7).
• Financial advisor contract was approved by the Finance Committee on 4/21/06.
• The term of this Agreement is for three (3) years beginning September 20, 2006 with an option to renew for two(2) one-year renewals at the same terms, conditions and specifications.
• There is no financial impact to the District. The source of funds is the proceeds from the Issuance of Debt.

Financial Impact:

There is no financial impact to the District. The source of funds is the proceeds from the Issuance of Debt.

For Additional Information, contact:

Joseph Moore (moorej@palmbeach.k12.fl.us)

Leanne Evans

Attachments (list):
Financial Advisor Agreement.pdf
Legal Checklist - Financial Advisor.pdf
PFM Asset Mgmt Beneficial Interest.pdf
QAP3.doc
Consultant Evaluation.pdf