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BOARD OF COUNTY COMMISSIONERS
AGENDA REQUEST
DATE: September 3, 2013
TO: Honorable Chairman and Members of the Board
FROM: Sunil Harman
SUBJECT: Underwriter Selection for Airport Bond Refunding
DEPARTMENT: Airport
BCC DISTRICT: All
STATEMENT OF ISSUE: The Board of County Commissioners is requested to approve the
recommendation of the underwriter selection committee for the sale and refunding of Airport
bonds (Series 2003) for approximately $10 Million ($8 Million for the refunding of the 2003
Series and $2 Million for retiring the Florida Association of Counties Loan).
BACKGROUND: On April 16th, the Board appointed a committee to review responses
received from a Request for Qualifications to provide underwriter services. The committee
consisting of Commissioner Kelly Windes; Director of Airports, Sunil Harman; Finance
Director, Gary Stanford and Deputy Director of Airports, Mike Stenson met on August 23, 2013
to consider responses from Gardnyr Michael Capital, Raymond James and the Royal Bank of
Canada. The attached Summary Ranking Sheet for RFP # 46-13 signed by Jack Allen
representing the Purchasing Director reflects the voting of the members. The ranking of the
applicants was (1st) Royal Bank of Canada, (2nd) Raymond James and (3rd) Gardnyr Michael
Capital. The meeting was noticed, recorded and minutes prepared per County policy.
OPTIONS: Approve, Table, Disapprove
RECOMMENDATIONS: The Committee recommends the Royal Bank of Canada as
underwriter for the Airport Bond refunding
RECOMMENDED BY:
APPROVED BY:
Ernie Padgett, County Administrator