Agenda Item Title:
Authorize Mayor & Finance Officer to Sign Municipal Advisor Agreement with Dougherty & Co in Regards to the Rushmore Plaza Civic Center Barnett Arena Project
Origination Group:
Legal & Finance Committee
Origination Meeting Date:
01/31/2018
City Council Hearing Date:
02/05/2018
Staff Contact:
Pauline Sumption
Agenda Item Summary:
In 2014, the City of Rapid City signed a Municipal Advisor Agreement with Dougherty & Co for the same purpose. This agreement just updates it for our current project beings the previous one did no go through.
Funding Source & Fiscal Impact (if applicable):
| Funding | Cost Center |
|---|---|
| Bond Proceeds as part of the overall project – Includes base fee of $25,000 from the first attempt (as agreed upon if that project failed, which it did); base fee of $15,000 for this attempt plus $0.50/$1,000 of bonds issued | |
Recommendations:
Origination Recommendation Action:
Approve