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MAR 19 999 l� <br />BOOK 8P F' E 31 � <br />ON MOTION by Commissioner Eggert, SECONDED by <br />Commissioner Scurlock, the Board unanimously <br />approved Raymond James as underwriter for the Sludge <br />Facility at a gross spread not to exceed $13.00 per <br />bond ($000), as recommended by staff. <br />UNDERViRITER SELECTION FOR GOLF COURSE EXPANSION <br />The Board reviewed the following memo dated 3/13/91: <br />TO: <br />DATE: <br />SUBJECT: <br />James E. Chandler <br />County Administrator <br />March 13, 1991 <br />UNDERWRITER SELECTION FOR GOLF COURSE EXPANSION <br />FROM: Joseph A. Baird <br />OMB Director <br />DESCRIPTION AND CONDITIONS <br />On January 22, 1991 the Board of County Commissioners established a short list of four <br />companies to be used whenever underwriting services were required: <br />A. G. Edwards <br />William R. Hough and Company <br />Raymond James <br />Prudential-Bache <br />The selection committee reviewed the underwriters' proposals, ranking Raymond James and <br />William R. Hough and Company as equally suitable candidates. The committee then utilized <br />an extensive ratings process developed by Art Diamond, the county's Financial Advisor, to <br />aid them in deciding between the two firms. The committee concluded that William R. <br />Hough and Company was the better candidate by a slight margin. <br />The Financial Advisory committee met on February 28, 1991 and approved the selection <br />committee's recommendation. William R. Hough and Company has agreed to underwrite <br />the bonds for a gross spread (including legal counsel) not to exceed $12.00 per bond ($000). <br />RECONIMENDATION <br />Staff recommends that the Board of County Commissioners approve William R. Hough and <br />Company as underwriter for the Golf Course at a gross spread not to exceed $12.00 per <br />bond ($000). <br />28 <br />