DEPARTMENT: Finance
FILE TYPE: Consent Action
TITLE
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Authorization To Execute An Agreement With Dorsey And Whitney, LLP For Bonding Counsel Services
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PURPOSE/ACTION REQUESTED
Authorize the Enterprise Finance and Information Services Director to execute an agreement with Dorsey and Whitney, LLP for bonding counsel services, upon the decision to proceed with bonding issuance.
SUMMARY
Following strategic planning in 2023, the Dakota County Board of Commissioners established several strategic priorities for 2024. One of those priorities is related to future capital finance strategies and financing issuances that may be necessary to carry out the County’s Financial Management Plan and Capital Improvement Plans. Given this priority, Dakota County issued a Request for Proposals (RFP) on September 11, 2024, for bonding counsel services. Four proposals were received and reviewed by staff in Enterprise Finance and Information Services Administration and the Finance Department.
Services and deliverables include offering direction and advice on the appropriate procedures to be followed by the County in connection with the authorization and sale of bonds or other debt instruments; providing legal advice and assistance for competitive and negotiated bond sales, as well as direct purchase and state/federal financing programs; preparing necessary documentation for authorization of sale and issuance of bonds; as well as other related municipal finance legal services.
The solicitation selection criteria included:
• Understanding the scope of services as detailed in the RFP.
• Demonstrated experience in providing the services as detailed in the Scope of Services.
• Team’s qualifications and availability.
• Strength and longevity of references from previous clients.
• Cost/ fee proposal.
After conducting interviews with each proposer, and upon thorough review, the review panel recommended awarding a retainer agreement to Dorsey and Whitney, LLP. The decision was based on the firm’s history of professional and efficient bonding counsel services and their capacity to meet all of the expectations and requirements in the solicitation satisfactorily. Dorsey and Whitney, LLP was established in 1912 in Minneapolis, Minnesota, with its founding practice being Public Finance. Dorsey and Whitney, LLP demonstrated a clear understanding of the County’s position and service needs in their response and their interview presentation.
RECOMMENDATION
recommendation
Staff recommends that the Board authorize the Enterprise Finance and Information Services Director to execute an agreement with Dorsey and Whitney, LLP for bonding counsel services, upon the decision to proceed with bonding issuance, at the rates specified in the Attachment, for the period of November 1, 2024, through November 30, 2029.
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EXPLANATION OF FISCAL/FTE IMPACTS
There is sufficient funding in the 2024 Finance budget for this agreement.
☐ None ☒ Current budget ☐ Other
☐ Amendment Requested ☐ New FTE(s) requested
RESOLUTION
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WHEREAS, the County has identified a need for bonding counsel services; and
WHEREAS, a Request for Proposals was issued September, 11, 2024 for bonding counsel services; and
WHEREAS, there were four proposals received in response to the RFP; and
WHEREAS, Dorsey and Whitney, LLP was selected based on the evaluation criteria as defined in the RFP and proposal interview presentation; and
WHEREAS, staff recommends executing an agreement with Dorsey and Whitney, LLP, upon the decision to proceed with bonding issuance, for the purpose of bonding counsel services; and
WHEREAS, the service rates are specified in the Attachment, for the period of November 1, 2024 to November 30, 2029.
NOW, THEREFORE, BE IT RESOLVED, That the Dakota County Board of Commissioners hereby authorizes the Enterprise Finance and Information Services Director, to execute an agreement with Dorsey and Whitney, LLP, upon the decision to proceed with bonding issuance, for bonding counsel services, at the rates specified in the Attachment, for the period of November 1, 2024 to November 30, 2029, subject to approval by the County Attorney’s Office as to form.
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PREVIOUS BOARD ACTION
None.
ATTACHMENTS
Attachment: Bonding Counsel RFP
BOARD GOALS
☐ A Great Place to Live ☐ A Healthy Environment
☐ A Successful Place for Business and Jobs ☒ Excellence in Public Service
CONTACT
Department Head: Paul Sikorski
Author: Carla Skog