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RESOLUTION NO. 2015-105 OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA WAIVING THE COMPETITIVE FORMAL BID REQUIREMENT AND APPROVING AN AGREEMENT WITH NBS GOVERNMENT FINANCE GROUP IN THE AMOUNT OF $96,000 TO PERFORM DISCLOSURE SERVICES IN PREPARATION FOR THE REFUNDING OF SEVERAL EXISTING COMMUNITY FACILITIES DISTRICTS
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RECOMMENDED ACTION
Recommended Action
Council adopt the resolution.
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SUMMARY
The City has formed many Community Facilities Districts (CFD) and Assessment Districts (AD) as financing mechanisms to fund infrastructure projects throughout the City. Typically these bonded districts pay for projects such as street improvements, parks, traffic signals, and drainage. Market interest rates for municipal bonds have remained low for quite some time which allows the City to consider refunding several existing CFD's.
ENVIRONMENTAL REVIEW
The Development Services Director has reviewed the proposed activity for compliance with the California Environmental Quality Act (CEQA) and has determined that approval of an agreement for disclosure services is not a "Project" as defined under Section 15378 (b)(2) of the State CEQA Guidelines because approval of the contract is a continuing administration activity; therefore, pursuant to Section 15060(c)(3) of the State CEQA Guidelines the activity is not subject to CEQA. Thus, no environmental review is necessary.
BOARD/COMMISSION RECOMMENDATION
Not applicable
DISCUSSION
In the fall of 2014, engineering staff followed Chula Vista Municipal Code Section 2.56.110 in the consultant selection process for annual special tax district administration services. A comprehensive Request For Proposal (RFP) was prepared and ultimately the Selection Committee members recommended and City Council approved a three year agreement with Willdan Financial Services. Willdan is currently in the process of preparing for the annual special tax levy.
While NBS Government Finance Group was not a...
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