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File #: 19-0396    Version: 1
Type: Agenda Item Status: Approved
File created: 3/6/2019 In control: Board of Supervisors
On agenda: 4/23/2019 Final action: 4/23/2019
Title: Auditor-Controller, recommending the Board of Supervisors: 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 Contract number 3812 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 which may be formed during the term of the contract. FUNDING: Special tax proceeds collected for the Community Facilities Districts.
Attachments: 1. A - NBS LTR JHARN 3-19-19, 2. B - NBS Agmt 3812 pending BOS sig, 3. C - Blue Route NBS, 4. Executed Agreement for Services # 3812
Title
Auditor-Controller, recommending the Board of Supervisors:
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 Contract number 3812 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 which may be formed during the term of the contract.

FUNDING: Special tax proceeds collected for the Community Facilities Districts.
Body
DISCUSSION / BACKGROUND
The Auditor- Controller requests that the Board of Supervisors approve Contract number 3812 with NBS for three years with a not-to-exceed amount of $300,000.00. 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, and the bond indentures. NBS assists Cities and Counties in California in managing over 200 Mello Roos Districts. With NBS assistance, the County’s likelihood of a material error or omission in administering the County’s Mello Roos Districts is reduced to a low level. The Auditor-Controller recommends that the county contra...

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