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JUS 6 1989 BOOK .76 F;",,GE 954. H. Underwriter for North County Sewer Assessment The Board reviewed the following memo dated 5/10/89: TO: Members of the Board of County Commissioners DATE: May 10, 1989 SUBJECT: UNDERWRITER FOR NORTH COUNTY SEWER ASSESSMENT CONSENT AGENDA FROM: Joseph A. Baird OMB Director In recent weeks the county has worked with Mr. Art Ziev of Gulfstream Financial on the $6.5 million dollar Farmers Home Administration Refinancing Bond Issue. The work involved could not have been done without the assistance of a competent underwriter. The County can choose an underwriter through formal means (by advertising through Requests for Proposals) or the option of merely selecting an individual or company that has already given good service. Staff feels that Art Ziev's prior work record with us, his extensive knowledge of the county utilities financing, plus our time constraints, make him a suitable candidate for the complexities of the North County Sewer Assessment bond issue. Staff would like permission to utilize Art Ziev of Gulfstream Financial as Underwriter on the North County Sewer Assessment with the underwriters spread not to exceed 2.25%. Commissioner Eggert asked why we are not going out to bid on this, and Commissioner Scurlock explained that in most cases we are going out to bid. The library issue, of course, is one that will be a bid item. There are two different approaches that you can take on these various issues. If it is a general obligation or a very uncomplicated issue, like the library, the Finance Advisory Committee and staff usually recommends to go ahead and do it competitively. When it is a negotiated deal, such as a special assessment bond which is somewhat unique, he felt it suits well to work with a team of people who, in fact, can bring some expertise and longevity to the program. In this case, Art Ziev has been working on this particular issue, as well as another special assessment, for a period of time, and 8