HomeMy WebLinkAbout17096 1 RESOLUTION NO. 17,096
2
3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO ENTER
4 INTO A FIRST CONTRACT RENEWAL WITH STEPHENS,INC.,OF THE
5 2025 CONTRACT TO PERFORM IN THE CAPACITY AS A FINANCIAL
6 ADVISOR, TO PROVIDE ANALYTICAL SERVICES REGARDING
7 ISSUANCE OF FUTURE DEBT OBLIGATIONS; AND FOR OTHER
8 PURPOSES.
9
10 WHEREAS, a financial (municipal) advisor is a professional or a firm that helps municipalities or
11 governments with strategies to manage and repay debt of the City,along with financial analysis associated
12 with potential debt issuances; and,
13 WHEREAS, the City of Little Rock, Arkansas, has a need for a financial advisor to assist with the
14 issuance of future debt obligations and financial analysis, including analysis of the proposed Clinton
15 Sustainability Energy District with the Clinton Foundation and ENFRA formerly Bernhard; and,
16 WHEREAS,a Request For Supplier Qualifications(RFSQ) was issued on March 13, 2025,to solicit
17 qualification proposals from willing and able suppliers; and,
18 WHEREAS,notice of the opportunity was sent to 629 firms with 21 document takers and 4 proposals
19 received from qualified local and national firms;and,
20 WHEREAS, the proposals were evaluated by an evaluation committee comprised of staff from the
21 Finance Department,the Office of Executive Administration,and the Public Works Department; and,
22 WHEREAS, interviews were held with all four respondents; and,
23 WHEREAS,the committee identified the most qualified firm to serve as the City's Financial advisor;
24 and,
25 WHEREAS, the Board of Directors approved City of Little Rock, Arkansas, Resolution No. 16,791
26 on August 19,2025,that included four one-year renewal options;and,
27 WHEREAS,the City and Stephens, Inc.would like to execute the first of the four renewals.
28 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
29 OF LITTLE ROCK,ARKANSAS:
30 Section 1.The City Manager is authorized to enter into a first contract renewal with Stephens,Inc. for
31 financial advisory and analytical services regarding issuance of future debt obligations.
32 Section 2. Funds for the services will be paid from the proceeds of future debt issuances.
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1 Section 3.Severability.In the event any title,section,paragraph,item,sentence,clause,phrase,or word
2 of this resolution is declared or adjudged to be invalid or unconstitutional,such declaration or adjudication
3 shall not affect the remaining portions of the resolution which shall remain in full force and effect as if the
4 portion so declared or adjudged invalid or unconstitutional was not originally a part of the resolution.
5 Section 4. Repealer. All laws,ordinances,resolutions,or parts of the same,that are inconsistent with
6 the provisions of the is resolution,are hereby repealed to the extent of such inconsistency.
7 ADOPTED: July 7,2026
8 ATTEST: APPROVED:
9
10 ADAAA -)vd_. 44AAgr
11 Allison Segars,City C Frank Scott,Jr.,Mayor
12 APPROVED AS TO LEGAL FORM:
13
14 A40-...--.) kg, . ti.„
15 Thomas M.Carpenter,City Atto ey
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