Okaloosa County BOCC — August 19, 2014 — Action Item Printout

BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: August 19, 2014 TO: Honorable Chairman and Members of the Board FROM: Don Turner SUBJECT: RFP or RFQ for Long Term Bank Loan DEPARTMENT: Facility Maintenance BCC DISTRICT: All STATEMENT OF ISSUE: (FM) Requests BCC direction regarding an RFP or RFQ for Bank Loan for long-term financing for multiple Facilities Capital Construction Projects. BACKGROUND: BCC financial consultant Mark Galvin appeared before the Board at the August 5, 2014, board meeting to advise the commissioners as to the available long-term financing options for the three current major facilities construction projects. The Board chose to move forward with the 20 year bank loan option. Mr. Galvin was directed by the Board to prepare documents to solicit proposals from interested lending institutions for the 20 year Bank loan for a principal amount not to exceed $25,000,000. The Board further directed that, once prepared, the RFP and RFQ documents were to be brought back to the Board for final authorization. RECOMMENDATIONS: (FM) Requests BCC direction regarding an RFP or RFQ for Bank Loan for an amount not-to-exceed $25,000,000 for long-term financing for multiple Facilities Capital Construction Projects. RECOMMENDED BY: APPROVED BY: Ernie Padgett, County Administrator