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Auditor-Controller recommending the Board Authorize and Execute the First Amendment to Agreement 548-S1311with NBS Government Finance Group, Inc. for the provision of Mello Roos bond administrative services, extending this agreement for one additional year through April 30, 2019, and increasing the not-to exceed amount by $50,000 for a new maximum amount of $300,000.
FUNDING: Mello Roos District Revenues.
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DEPARTMENT RECOMMENDATION
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.
2) Approve Amendment to Agreement 548-S1311 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), and any additional Community Facilities Districts Bond administration services which may be formed during the term of the contract.
DISCUSSION / BACKGROUND
On April, 30, 2013 your board authorized and executed Agreement 548-S1311 with NBS Government Finance Group (NBS). This agreement is expiring on April 30, 2018. The Auditor- Controller requests that the Board of Supervisors approve an amendment agreement with NBS to provide Mello Roos Community Facilities District bond administration services, extending this agreement for one additional year and increase the not-to exceed amount by $50,000 for a new not-to-exceed amount of $300,000. 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 responsi...
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