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MAY 12 1997 <br />BOOK <br />ON MOTION by Commissioner Eggert, SECONDED by <br />Commissioner Bowman, the Board unanimously <br />68 f�,,t awl <br />tabled this matter until the consultants can visit <br />and explain the project costs. <br />FINANCE ADVISORY COMMITTEE REPORT <br />Chairman Scurlock reported that he, OMB Director Joe Baird, <br />and Administrator Charles Balczun reviewed 12 proposals from <br />finance consultants and culled those down to a short list of 3 <br />firms that appeared before the Finance Advisory Committee: <br />Arch Roberts <br />M. G. Lewis <br />Huff & Co. <br />Chairman Scurlock advised that after presentations by the <br />above three firms, the first vote ended in a virtual tie between <br />M. G. Lewis and Arch Roberts. The point spread was extremely <br />close; however, Huff trailed by a significant amount. In talking <br />with staff after the meeting, it was staff's position that M. G. <br />Lewis be recommended to the Board of County Commissioners as <br />financial consultant for the County. <br />Chairman Scurlock requested that Administrator Balczun be <br />authorized to negotiate with M. G. Lewis, and if unsuccessful in <br />negotiating with them, go to Arch Roberts, and then to Huff 6 Co. <br />He advised that M. G. Lewis has agreed to give up all of their <br />underwriting activity for Indian River County, which is a <br />requirement of the proposal that a consultant cannot act as both <br />underwriter and advisor. He explained that we do not have a <br />financial advisor/consultant at this point, but the County has <br />used all three firms from time to time as financial advisors or <br />underwriters on various bond issues. <br />Commissioner Bird asked if the financial advisor would get <br />involved in the day-to-day investment of funds, and Chairman <br />Scurlock explained that the consultants would advise on specific <br />issues at our request, such as the selection of an underwriter, <br />36 <br />