Agenda Item # 24
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Date: |
August 19, 2002 |
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Committee Meeting Date: |
August 15, 2002 |
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Board Meeting Date: |
September 5, 2002 |
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ACTION
X
DISCUSSION
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| INFO
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BOARD MEMORANDUM
| TO: |
Santa Clara Valley Transportation Authority |
| | Board of Directors |
| | | | THROUGH: | Suzanne B. Gifford |
| | General Counsel |
| | | | CC: | Peter M. Cipolla |
| | General Manager |
| | |
| SUBJECT: |
Municipal Finance Legal Services |
RECOMMENDATION:
Authorize the General Manager to execute Task Order contracts for Municipal Finance legal services with one or more firms, for a period of three-years with options to extend each contract for up to two additional one-year periods in an aggregate amount as budgeted for each year for all agreements.
BACKGROUND:
Based on VTAs projected financing transactions, which include debt financing and U.S. Leveraged Lease transactions, the Chief Financial Officer has identified a need for municipal finance legal services in the following areas: Note Counsel, Bond Counsel, Disclosure Counsel; and Lessee Counsel. By using multiple Task Order contracts, VTA will be able to secure the services of pre-qualified firms for multiple and simultaneous projects.
DISCUSSION:
A Request for Proposals (RFP) was issued on June 28, 2002 for the above-mentioned legal services. Proposals were solicited from over 20 firms. Proposals were opened on August 1, 2002, and will be evaluated by a review board consisting of representatives from Fiscal Resources and the General Counsels office. Respondents included:
Fulbright & Jaworski LLP
Hawkins, Delafield & Wood
Manatt, Phelps & Phillips, LLP/Patton Boggs LLP
Nossaman, Guthner, Knox & Elliott, LLP
OMelveny & Myers LLP
Orrick, Herrington & Sutcliffe LLP
Pillsbury Winthrop LLP
Sidley Austin Brown & Wood LLP
Squire, Sanders & Dempsey LLP
The review board evaluated the proposals according to a pre-established set of criteria, including qualifications of the firm, qualifications and experience of proposed staff, and the accuracy and completeness of each proposal. The review board recommends awarding contracts to the following firms:
Fulbright & Jaworski LLP
Nossaman, Guthner, Knox & Elliot LLP
Orrick, Herrington & Sutcliffe LLP
Squire, Sanders & Dempsey LLP
The review board rated these firms as the overall best candidates, based on professional qualification, staffing, and experience.
Agreements resulting from this solicitation will be task order agreements. No minimum level of work has been guaranteed by VTA. Firms will be compensated for each awarded task on a firm-fixed price basis. The task orders will be issued to a firm according to their availability, particular expertise in the specific discipline involved, and reasonableness of pricing and competitiveness with other cost proposals received from other approved firms. The agreements will be executed for an initial three-year period, and may be extended for two one-year periods.
ALTERNATIVES:
There are no recommended alternatives, as issuing a new Request for Proposals would not result in a greater number of proposals. The proposals received were adequate to meet VTAs needs and were deemed to have the required expertise and experience for the proposed disciplines.
FISCAL IMPACT:
It is estimated that the annual aggregate value of all legal services will not exceed $600,000 per year. Funds for each contract task order will be reimbursed from transaction proceeds.
SMALL BUSINESS ENTERPRISE (SBE) PARTICIPATION:
No specific SBE goal has been established for these contracts because there are no identifiable subcontracting opportunities. Subcontracting opportunities will be identified on a task order by task order basis.
| Prepared by: | Kimberly Koenig |
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