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Auditor-Controller recommending the Board:
1) Make findings that it is more economical and feasible to contract out the services in accordance with County Ordinance Chapter 3.13, Section 3.13.030; and
2) Approve retroactive Amendment to Contract number 3812 to extend the term of the contract one year, for a new expiration date of April 30, 2023, with NBS Government Finance Group, Inc. (“NBS”) for the provision of Mello Roos bond administrative services for El Dorado Hills Community Facilities District 1992-1 (Serrano), Community Facilities District 2001-1 (Promontory), Community Facilities District 2005-1 (Blackstone), Community Facilities District 2005-2 (Laurel Oaks), Carson Creek Communities Facilities District 2014-1 (Carson Creek), and Bass Lake Hills Communities Services District 2018-1 (Bass Lake Hills), and any additional Community Facilities Districts Bond administration services that may be formed during the term of the contract.
FUNDING: Special tax proceeds collected from the Community Facilities Districts.
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DISCUSSION / BACKGROUND
On April 23, 2019 the Board authorized and executed Agreement 3812 with NBS Government Finance Group (NBS). This Agreement expired on April 30, 2022. The Auditor- Controller requests that the Board of Supervisors approve an amendment to this agreement with NBS to provide Mello Roos Community Facilities District bond administration services, extending this agreement for one additional year. The County Officer with responsibility for administering this agreement is Joe Harn, Auditor-Controller.
Since the County issued its first Mello Roos bonds in 1994, the County has engaged special tax consultants to provide bond administration services to the County. The cost of these services will be exclusively the responsibility of the developers and/or property owners in the districts. NBS assists the Auditor-Controller’s Office in administering the County’s Mello Roos Districts in accordance with state law, federal law...
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