2024 12 17 Packet website

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b) The legislative Body or designated official grants in writing specific authority on 
a transaction by transaction basis; 
c) Such sale is properly carried out through a widely and publicly advertised sale, 
during normal bond sale hours, and through an industry standard, electronic 
bidding platform; and 
d) The financial advisory fee is separately disclosed and billed from the 
underwriting fee. 
2) Negotiated Sale 
The City recognizes that some securities are best sold through a negotiated sale with 
an underwriter or group of underwriters. The City shall assess the following 
circumstances in determining whether a negotiated sale is the best method of sale: 
a) State requirements on negotiated sales; 
b) Debt structure which may require a strong pre-marketing effort such as those 
associated with a complex transaction generally referred to as a "story" bond; 
c) Size or structure of the issue which may limit the number of potential bidders; 
d) Market conditions including volatility wherein the City would be better served by 
the flexibility afforded by careful timing and marketing such as is the case for 
Debt issued to refinance or refund existing Debt; 
e) Whether the Debt is to be issued as variable rate obligations or perhaps as Zero 
Coupon Debt; 
f) Whether an idea or financing structure is a proprietary product of a single firm; 
g) In a publicly offered or privately placed, negotiated sale, a financial advisor, if 
any, shall not be permitted to resign as the financial advisor in order to 
underwrite or privately place an issue for which they are or have been providing 
advisory services; 
h) The underwriter shall clearly identify itself in writing as an underwriter and not 
as a financial advisor from the earliest stages of its relationship with the City with 
respect to the negotiated issue. The underwriter must clarify its primary role as a 
purchaser of securities in an arm's length commercial transaction and that it has 
financial and other interests that differ from those of the City. The underwriter in 
a publicly offered, negotiated sale shall be required to provide pricing 
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