Agenda - 11-04-1996 - 8l - Laserfiche WebLink

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a 1 Orange County Board of County Commissioners Action Agenda Item No Action Agenda Item Abstract 9- Meeting Date: November 4, 1996 Subject: Appointment of Bond Counsel Department: Finance/Manager/Attorney Attachment(s): Public Hearing: Yes No x Request for Proposals Budget Amendment 10/31/96 Staff/Attorney Memo Needed: Yes No x Information Contact Ken Chavious, ext 2450 Rod Visser, ext 2300 Geof Gledhill, 732-2196 Telephone and Extension Number Hillsborough 732-8181 Chapel Hill 9684501 Durham 688-7331 Mebane 227-2031 Purpose: To consider appointment of new County bond counsel. Background: At the October 15, 1996 meeting, the Board of Commissioners adopted a resolution authorizing the staff and Attorney to prepare and distribute a Request for Proposals (RFP)to various law firms in North Carolina to ascertain their interest in, and qualifications for, serving as the County's bond counsel in the planned Southern Village Elementary School project financing. This RFP was necessitated by the change in emphasis of the practice of the County's current bond counsel, the Brown &Wood law firm of New York. After consultation with staff of the Local Government Commission concerning law firms in the State likely to be qualified to provide bond counsel services, staff distributed the RFP to six firms, five of which responded. Based on staff/attorney evaluation, the Manager recommends that the Board select the Sanford Law Firm to serve as the County's bond counsel for the Southern Village Elementary School financing project. While this appointment is for this specific financing, the Board may, at its option, choose to retain the Sanford Law Firm as bond counsel for future financings, or pursue another RFP process for any such financings. Recommendation(s): The Manager recommends that the Board appoint the Sanford Law Firm to serve as bond counsel for the Southern Village Elementary School project financing.