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HomeMy WebLinkAboutDigital Assurance Certification, LLC - 2014-07-11�,"le CONTRACTS SUBMITTAL TO CITY CLERK'S OFFICE To: JOAN FLYNN, City Clerk Name of Contractor: Digital Assurance Certification, LLC Purpose of Contract: For Example: Audit Services or Water Quality Testing Huntington Lake — Huntington Central Park Risk Assessment/Compliance Review for SEC's Municipalities Continuing Disclosure (MCDC) Initiative Amount of Contract: $5,000 Copy of contract distributed to: The original insurance certificate/waiver distributed to Risk Management Initiating Dept. Finance Dept. ❑ ORIGINAL bonds sent to Treasurer ❑ Date: 9/18/14 Name/Extension City Attorney's Office a � a zQr' rn 7T = C� v n ca co r=/ AU.� C.L.` G:AttyMisc/Contract Forms/City Clerk Transmittal In response to the SEC's Municipalities Continuing Disclosure Cooperation ("MC DC;") Initiative and to the .heightened scrutiny on compliance with prior continuing disclosure agreements subject to the requirements of SEC Rule 15c2-12 (the " Rule"), DAC: will provide the following - Mo-part review: 1 A "Risk Assessment Review;" which will assist you and your counsel in. determining whether you should consider "self -reporting" under the MCDC Initiative; and 2. A "Compliance, Review," which will assist you and your counsel in remedying any past compliance issues, andimproving your future compliance efforts. I Risk Assess, ment.Review: For each series of bounds issued during the past five years and for which you ("Requesting Party") request a Risk.Assessment Review, DAC (a) will extract from the Official Statement ("OS"') for the bonds the summary language describing compliance with prior continuino? disclosure agreement ("CDA") requirements; and (b) will show the filing date requirements and actual filing dates for audited financial statements ("AFS'') and. Annual Financial Information (as such term is defined in the Rule)("AFI") made on DisclosureUSA (for the period from September 7, 2004 through June.1 1, 2007) or Bloomberg (if before July 1, 2009) or on the INt1SRB's EMMA system (if on or after July 1, 2009) for the five-year period ,preceding the OS date (such period is referred to hereinafter as the "MC;DC Review Period").. See "Exhibit A" for the methodology used in a Risk Assessment Review: 2. ComplianceReview: DAC will provide you with online findings showing (a) all bond. issues for which you were.an oblinted person and which have been outstanding during; the past five years from the date of the review (such period is referred to hereinafter as the "CRS Review Period"), (b). the continuing disclosure filing requirements for each of these bond issues, (c) your five-year filing history reflecting all docLanents filed at EMMA during the CRS review Period. (d) findings as to whether your filings have been timely and in conformity with your CDA requirements; (e) an "exceptions" report summarizing late or missing flings, and (f) upon. request, a narrative summary of the findings set forth in the exceptions report. See "Exhibit A." for time methodology used in a Compliance Review, 1 ACKINO EDG E1 TS By r accessing the SAC; System in order to review the findin.as � ��din-s") resulting, �.. Risk Assessrnent"Compliance Revie, ski engagement ("Services"), you eeknowledge that: 1; .The on agement of DAC to provide access to youconstitutes a consulting engagement. '?) The infornxation, -resented online for the. Services, constitutes an independent . accountant's report of the.results, which. report is dated the date such information is first accessible online. 3) The purpose of each engagement is to assist you and your counsel in evaluating (a) v�,hether there has been adequate disclosure in 0S .f'or bonds issued during the past fire years regarding past compliance during the NICDC Review Period with prior continuing disclosure undertakings, and (b) whether there has been past compliance with. prior continuing disclosure undertakings within the C RS ReNiew Period. 4) You are the only party for whom the Services have,been rendered, but you mayj allow access to the results to your counsel and oti-ier members of a working group, provided that such other parties may; not rely on the results u-rithoui separately crigaging DAC. 13Y EXECUTING THIS ENGAGEMENT LETTER, YOU ACKNOWLEDGE THAT YOU UNDERSTAND THAT' DAC"'S FINDINGS GS ARE INTENDED SOLF,LY FOR EXCLUSIVE USE BY YOU AND YOUR COUNSEL IN EVALUATING BONDS REVIEWED BY DACi. AT THE REQUEST ;OF THE REQUESTING PARTY ANTI) .ITS COUNSEL), AND THAT AS SUCH THESE MATERIALS ARE ATTORNEY - CLIENT T O PRODUCT SUB .JEC;T TO THE ATTORNEY -CLIENT PRIVILEGE EGE BETWEEN YOU AND YOUR C OUNSEL. TIESE MATERIALS MAY BE SHARED WITH THIRD PARTIES ONLY WITH YOUR PERMISSION AND "I'LIE WRITTEN CONSENT OF DAC, PROVIDED THAT SUCH OTHER. PERSONS MAY NOT RELY UPON SUCH. MATERIALS WITHOUTSEPARATELY ENGAGING DAC". TERMS OF USE Use of the Findings is limited by, and subject to the additional Terms of Use, posted on the DACwebsite. You acknowledge and agree. that these Terms of Use form a part of this .'agreement and agree to comply with the Terms of Use in your use. of the Findings. You further understand that to access the DAC; vve'osite, each registered user must acimowledge acceptance of the Terms of Use on your behalf; and represent that your users are authorized to :accept the Terms of Use on your behalf. You may not access the DAC vifebsite with respect to any band issues of any third party or for any bonds issued by you other than the bonds requested. 2 he DAC website and its various software programs (eoI'lectivel', the "SystetrC) is protected y one or more pending anti/err issued patent applications, copyrights, trademarks, service marks, intemational treaties, annioa other proprietary ,rights and laws of the U& and other countries.. The -System is also protected as a collective work or compilation wider U.S. copyright and other laws andtreaties. All individual tiler eats making up the Systern are also copyrighted works, You agree to abide by all applicable copyright and other laws, as well as any additional copyright notices or restrictions contained in the System. DAB; grants you a limited license to access and maize personal use of the System solely in accordance with this Agreement. Any unauthorized use of the Systern shall terminate the permission or license granted to you by DAC and rill make any further use of the Systern an infringement- of DAC�s intellectual_ property rights. All rights not expressly granted under this Agreement are reserved by :DAC PRICING DAC will charge $5,000 for a Risk Assessment/Compliance Review, to be completed by July 31, 2014. ACKNOWLEDGED . (�� By-e 1A Paula Stuart aloe: Low / j cL CEO Title: X-tA.)A-,0 Digital Assurance Certification, L.L.C. City ofHuntington Beach Lute: Late: JEN IFER ty Aftomw By CaVAftmay 114E,TIIODOLOGY L Risk Assessment Review: a,, Spreadsheet: DAC will provide you with an Excel spreadsheet for each series of bonds reviewed ("Bonds"), setting forth the following data columns: 1) CUSIP Numbers. 2) State (e.g., PA). Issue Description (e.g., $10,000,000 City of X. General Obligation. Bonds, Series X-) (as copied from OS cover). 4) OS Surninary Language (i.e., a copy of the language from the OS describing compliance with prior continuing disclosure obligations). The f6howing columns Arill be populated with data, from filings made either at 0 DisclosureUSA (for the period from September 7, 2004 through June I I � 2007) or Bloomberg (prior to July 1, 2009) or EMMA (on or after July 1, 2009) during the We preceding f year -period ending on the date of the OS: Fiscal Year End (if changed. will be noted in the "Comments" column). 2) Audit Due Date (i.e., the date by which the CDA specifies that the AFS will be filed). 3 Audit Filing Date (i.e- the date the AFS' were filed at EMMA or, prior to July 1, 2000, Bloomberg). 4) Calculation of days late (i.e., the number of days by which the "Audit Filing Date" follows the "Audit Due Date"). 5) Operating Data Duei Date (i.e., the date by which the CDA specifies that the non-AFS annual financial information and operating data will be filed). 6) Operating Data Filing Date. The operating information filing requirement will be treated by DAC as ,having, been, met if, for example, DAC were to Find, under any of the "tabs" under the "Financial Information & Documents"' sub - header under the "CoritinuffiR, Disclosure" header in EMMA, documents which consisted of or included (a) a section of the AFS entitled, "Operating Informatiom." (b) a Comprehensive Annual Financial. Report (CAFR). or (c) a separate.document which included "Financial Information" or "Operating Data." A-1 7) Calculation of days late (i.e., the number of days by which the "Operating Data Him- Date" follows the "Operating,Data Due Date"). C11 8) Comments (will be used to indicate extraordinary events, such as if a fiscal year end date changes', or there ,Lre inconsistent due dates). b. Complianceffistoi-y: In order to create a. compliance history, DAC will review- the EMMA and Bloomberg system for filings by enteiing the 6-digit "base" CUSIP b .1 nuniber from each of theC , 9-digit UP n STuiners provided by you. DAC (1) will show the dates on which the. AYS and annual Financial infon-nation were filed (with DisclosureUSA (for the period from September 7, 21004 through June 11, 2007) or Bloomberg prior to July 1, 2009 andwith EMNIA. thereafter) within the MCDC Review period, and (2) will review the CDA filing date requirements for ATS and annual financial information for bonds which were issued within the MC DC Review Period, and will show in "Comments" which CDA's filing date requirements are controlling. Z:> For example, for filings made in the EMMA system, under the "Cbritinuing Disclosure" header for such 6-digit base CUSIP number, DAC Nvill then open the following "tabs" under the .'Financial Information & Documents" sub -header for each fiscal ve&- filed with EMMA: 1.) "Annual Financial Information and Operating Data" (to determine if "fiiiancial.information ,and. operating data" other than .AFS have been filed). 21) "Audited Financial Statements or CAFR" (to determine if AFS have been filed, and also to detennine, any instance in which there is no filing of "'financial inforniation and operating data" for a particular fiscal year, if the CAFR should also have been filed wider that tab). Note: The following tabs appear under "Continuing Disclosure" sub -header only if documents are filed under their. hem. If available, these tabs will be reviewed as shown below: 3) "Budget" (however, if there is not a current fiscal year budget or budget summary requirement in the CDA, this sub -header will not be reviewed). 4) 'InterimAdditional Financial Infbrrnatlon/Operating Data" (however, if the CDA requirements are found in any of,the. three above -mentioned tabs,, this tab will not be reviewed). 5) "Other Financial/Operating Data" (however, if the CDA requirements ate found in any of the four above -mentioned tabs, this tab will not be reviewed). 6) "Failare to Provide Annual FinanCial Information" (FTP). The filings I I C under this sub -header will be reviewed not for the purpose of determining the FTP notice filing date, but to detennine -whether late or corrective filings of financial A-2 iriformation and operating data or AFS were inlulledas Dart of this F THP notice filing. Events Information. in additiori to the Excel spreadshe t described a, above, le DAC will .also;print out the information set forth trader dhe sub -header "Event Notices" tab under the '*'Continuing Disclosure header" for the. 9-dlgoh CUSIP number. and crovide this information as a p,df printout. d. Limitations. In addition to, or in further explanation of-, the limitations set forth above, DAC's scope of review will be lirriiied as follows: 1) DACkNiill review the for of CIA contained in an appendix or exhibit to an OS (or, if no form of CDA. is available in the OS, the ``Continuing Disclosure" heading in the OS) in order to determine the folloNNing: i) The "due date" for the annual filing requirement-, for the bonds. ii) Nklietlier there are "operating data" (including budgets, etc.) filing requirements for the Bonds. iii) The "obligated persons" (as defined in Rule, 1.5c2-12):specifically, identified for the Bonds. DAC assumes that the form of the CDA contained in an exhibit or appendix to an OS (or if no form is available in the OS, then the suirim. ary of the CI A requirements set forth in the OS) accurately describes the filing and. filing date requirements for a series of Bonds. 2) Under the EMMA system, DAC will only open the "Financial Information & Documents"" sub -header (under the "Continuing Disclosure" header) and the associated tabs for an obligated person in the EMMA system. DAC will not open the "Event Notices" or "Advance Refunding Documents" . cum, ents" sub -headers (also under the "Continuing Disclosure" header), nor will it open. any of the tabs under such sub -headers.. Only obligated persons specifically identified in CDAs for Bonds will be shown on the Excel spreadsheets. 4) For conduit issues, DAC will revie�N, (1) if you are the conduit issuer and also an obligated person,. the conduit issuer's filing requirements, and (2) if you are an obligated person which is named,or designated in the CDA,, if' you do not ,otherwise have debt which, are Bonds, then DAC Will review compliance by you with prior CDAs for bonds which DAC determines, based on a limited revie"A, of EMMA's filings under your name, were shown as outstanding at the time of issuance of the conduit issue. A-2 5) For pool issues k 1'e.g loan prograin with multiple borrowers, some of 6�� a which may be obligated persons),, DAC will review (a) if you are an issuer and also an obligated person, the issuer's suer's filing requirements, and (b) if you are an obligated person which is named or desip �iiated in the CDA, if you do not other,xise have debt vvhich are Bonds, then DAC will review compliance by you with prior CDAs for bonds which DAC determines, based on a limited review of ElviNIA's filings -under your name, were shown as outstanding at the time of issuance of the pool issue, 6) Ifthe bonds are conduit or' -pool" bonds, you are, a borrower mid the issuer is not an obligated person for Rule 15c2-1.2 purposes, then the issuer will still be shoik­n on the Excel spreadsheet, only if you are specifically named as "obligated persons" will you be reviewed by DAC. 7) If you are an issuer (such as a city) with multiple 6-digit base CUSIP numbers, DAC will review and present each of your Bonds which have different 6-digit base CUSIP numbers as separate obligated persons. THE PARTIES UNDERSTAND THAT DAC'S REVIEW IS LIMITED TO CDAS FOR BONDS WHICH WERE OUTSTANDING DURING THE MCDC RE'VIEW PERIOD, AS PROVIDED BY YOU ON THE ATTACHED EXHIBIT A. THESE PROCEDURES ARE NOT INTENDED TO PROVIDE COMPREHENSIVE FINDINGS SIMILAR TO.THOSE PROVIDED PURSUANT TO A DAC "COMPLIANCE REVIEW; " BUT ARE INTENDED TO PROVIDE THE REQT i ESTING PART' ANTI ITS COUNSEL WITH FINDINGS ALLOWING YOU TO ASSESS WHETHER FURTHER REVIEW OF THE 0 FFICIAL I STATEMENTS FOR THE BONDS REVIEWED IS WARRANTED. 2. Compliance Review IN ORDER TO ENSURE THAT ALL MUNICIPAL SECURITIES WHICH YOU EXPECT TO BE SUBJECT TO A SEC POST ISSUANCE COMPLIANCE REVIEW SERN710E ARE REVIEWED, DAC PROVIDES A LIST OF ALL OF THE NINE -DIGIT CUSIP NUMBERS WHICH IT HAS REVIEWED TO YOU, AND REQUESTS THAT YOU AND YOUR ADVISORS REVIEW THIS LIST TO MAKE SURE THAT ALL OF YOUR MUNICIPAL SECURITIES SUBJECT TO THE RULE, WHICH HAVE BEEN OUTSTANDING DURING THE CRS REVIEW PERIOD, ARE INCLUDED ON THAT LIST. a. DAC will revieA,, all official statements. ("Prior, Official Statements'",) and the CDA requirements described. thercin for each issue of municipal securities ("Issue") which were or are outstanding within the CIS Review Period, for which financial information. and operating data are provided for you or for which Notice Events are required. A-4 b. In determining the scope, of financial inforination and, operating data that are required by CDAs, DAC vvill, rely upon, (a) the "Continuing Disclosure" section of the Prior Official Statements. andjor (b) the forni of the. unexectited CDA if shown separately as an exhibit or appendix to the Prior Official Statements (collectiv.0-11y,lbe "Os Continuing Disclosure "). inorder to determine what financial it formation and operating data. should be provided and the appropriate reporting date(s). I-', however, upon review of a Prior Official Statement, DAC is unable to, deterinine the scope of financial .information and operating data that are required in a CDA, DAC will (a) request that you provide DAC -Arith an executed copy of the continuing disclosure undertaking and/or (b) confeT with you or your representative to determine, jointly, what assumptions should ,be made With respect.to the scope of financial information and operating data that are required by such CDA. C. DAC will prepare a list of the Annual Financial Information to be provided by you, including audited or unaudited annual -financial reports, and the date by which such Annual Financial Inforniation. is to be provided for each 4ssue that was outstanding within the past five (5) years. d. DAC will compare this list against the Annual Financial Information filed for you with the NRIAS]Rs within the past five (5) years. It is, understood by the parties that NRMSIRs means the 'MSRB's IEMMA system on and after I July 1, 2009 and for the period prior. to July 1, 2009. Bloomberg. e. DAC will then,present results of such comparison: 1.) Annual Filing Date. Is there a consistent Annual Filing Date identified? If not. what are the dates identified for each issue? 2) Were Audited Financial Statements for prior fiscal years: i) Filed on or before the Annual. Filing Date? ii) Filed late, but -unaudited financial statements were filed on or before the Annual ual Filing.Date? iii) Filed late, and unaudited financial statements were not filed on or before Annual Filing Date? iv) Not filed at all? 3) Financial Information and Operating Data: a) Is it specified in the OS Continuiria Disclosure? If not.. then DAC will note that the information filed with Bloomberg or EMW, within the past five (5) years needs to be compared to the Prior Official Statement(s). A-5 b) If specified, does the AIin ual Financial Inforinatilon filed duril* the past five years include all specified financial inforina:tion and operating data? C) If the Annual. Financial ffiforhr!wdon filet during the past five vem fails to include all specified Pinancial information and operating data, has corrective action since been taken? 4) Failure to File Event notices: a) If all or a seg ent oan f Annual Fincial Information was not filed, in, or filed late, was a Failure to File Event notice, filed? it If filed, was the Failure to File Event notice filed without explanationor with explanation? b) Failure to File Event notice was not filed. 5) Notice Event notices: a) identify Notice Event notices filed. b) If long -terra rating changes, have occurred,. but a Notice Event notice of such rating change has not been filed, DAC will provide a copy of such rating change. C, Short-term rating changes are not reviewed.. 6) Have You agreed to mak, c Quarterly Reports? a) Have these been filed on or before the Quarterly Filing Date? b) Is s a Failure to File Event notice required and, if so, was a notice filed? f. Assumptions. 1) Where the CDA requires the presentation of financial information and operatimy data "of the type" or "similar to" information found In certain general section headings within an Official Statement, but the specific information to be presented is not identified, the asstpuption is that the infori-nation to be updated is limited to information presented in tabular formats under the general section headings and excludes economic and demographic information (unless explicitly required to be provided). 2) Where the CIA requires a description of any additional financial information, operating data..or litigation which would be material, the assumption. A-6 that a: lack of filinas indicates that no n.-,atertal inkxrlllation� or litigation should be disclosed. 3 3) `ATJere the (MA rcquires -1 description of any additional indebtedness or incitbtedness i p�.�,able from p'edged revenues. and. where the audited statements are provided, the assumption is that debt shovai in. the "Long-Ternp Debt"'note in the notes to the financial statements meet those reqtiirements. 4) Where the CDA requirerneias are silent on reportmig periods., the assumption is only one period's information is required. 5) Unless explicitly 'required by a CDA, projected Financial statements are assumed not to be a future. requirement, as audited financial statements preclude projections. 6) Historical operating statements are assumed to be provided -,when audited financial statements are filed. 7) No rating event notice is necessary if the "insured" rating for an issue of municipal securities -which has bond insurance were to fall below the ".underlying." (also referred to as the "stand-alone") rating for the issue. Caveats ll DAC will not evaluate "materiality" of any events Listed -under -paragraph (b)(5)(i)(C) of the Rule. 2) DAC will. perform only the procedures described above and report the results of these procedures, and its obligations under this engagement are limited to this engagement. 3) Unless you have been a DAC dissemination agent client during the period reviewed, DAC cannot provide assurance that it. will be able to find all "rating zn� change" events that may need to have been filed. 4) DAC will not review -bond call- event notices; as these would have been filed by the trustee or escrow agent, DAC suggests that you inquire of the trustee or escrow agent as to whether all bond call event notices were filed. A-7 iq ®py I . CERTIFICATE OF LIABILITY INSURANCEF DATE (MMIDDIYYYY) 0711112014 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsements). PRODUCER MacLeish Insurance Agency CONTACTNAMELee Claris PHONE FAX Ezt : (407)647-8000 AIC No): (407)228-2897 634 Virginia Drive mla Lo Orlando, FL 32803 ADDRESS: leec@macins.us i License #: A161813 INSURER(S) AFFORDING COVERAGE NAIC# INSURER A: St. Paul Fire and Marine Insurance Company 085306 INSURED Digital Assurance Certification, LLC INSURER B : The Travelers indemnityCompany of Connecticut 25682 INSURERC: The Phoenix Insurance Company 25623 390 North Orange Avenue INSURERD. Suite 1750 Orlando, FL 32801 INSURER E: INSURER F COVERAGES CERTIFICATE NUMBER: 00004222-242940 REVISION NUMBER: 19 THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR LTR TYPE OF INSURANCE ADDL SUBRI I POLICY NUMBER POLICY EFF MMIDD/YYYY POLICY EXP MMIDD/YYYY LIMITS A GENERAL LIABILITY x COMMERCIAL GENERAL LIABILITY CLAIMS -MADE IF—Y-1 OCCUR , ZPP15N77741-14 - 0412412014 0412412015 I EACH OCCURRENCE $ 1 OOO OOO DAMAGE TO PREM SES (Ea occu RENTEence $ 250,000 MED EXP (Any one person) $ 10,000 PERSONAL &ADV INJURY I $ 1,000,000 GENERAL AGGREGATE $ 21000,000 GEN'L AGGREGATE LIMIT APPLIES PER: PRO- 17 LOC X( POLICY FI JECT PRODUCTS-COMP/OPAGG $ 2000000 $ B AUTOMOBILE LIABILITY ANY AUTO ALL OWNED SCHEDULED AUTOS AUTOS NON -OWNED x HIRED .AUTOS AUTOS BA1 D346899-14 04/24/2014 0412412015 EOa.Bcld.D SINGLE LIMIT $ 1,000,000 BODILY INJURY (Per person) $ BODILY INJURY (Per accident) $ 0 RTY DAMAGE $ $ A X UMBRELLALIAB EXCESS L1A6 HOCCUR CLAIMS -MADE ZPP15N77741-14 0412412014 0412412015 EACH OCCURRENCE $ 2,000,000 AGGREGATE $ X DED RETENTION $ 10.000 $ C WORKERS COMPENSATION AND EMPLOYERS' LIABILITY YIN ANY PROP RIETOR/PARTNER/EXECUTIVE ❑ OFFICER/MEMBER EXCLUDED? (Mandatory in NH) If yes, describe under DESCRIPTION OF OPERATIONS below N / A HNUB-1D346273-14 0412412014 04/2412015 X WC STATU- OTH- E.L. EACH ACCIDENT $ 1,000,000 E.L DISEASE - EA EMPLOYEE $.1 ,000,000 E.L. DISEASE - POLICY LIMIT $ 1,000,000 DESCRIPTION OF OPERATIONS I LOCATIONS I VEHICLES (Attach ACORD 101, Additional Remarks Schedule, if more space is required) IVi:lJoisl 13C/ SAMPLE SAMPLE SAMPLE SAMPLE SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE U 1988-2010 AGUKU GUKFUKA I IUN. Ail rignis reserveu. ACORD 25 (2010/05) The ACORD name and logo are registered marks of ACORD Printed by LMC on July 11, 2014 at 10:40AM CITY OF HUNTINGTON BEACH r Professional Service Approval Form PART e Date: 6/6/2014 Project Manager Name: Dahle Bulosan Requested by Name if different from Project Manager: Department: Finance RECEIVED AUG 0 4 2014 PARTS I OF THE PROFESSIONAL SERVICES CONTRACTS APPROVAL FORM MUST BE COMPLETED BY THE REQUESTING DEPARTMENT AND SIGNED BY THE CITY MANAGER, FOR APPROVAL, BEFORE PROCEEDING WITH THE SOLICITATION OR CONTRACT PROCESS. PART / MUST BE FILED WITH ALL APPROVED CONTRACTS. 1) Briefly provide the purpose for the agreement: Risk Assessment/Compliance Review for SEC's Municipalities Continuing Disclosure (MCDC) Initiative 2) Estimated cost of the services being sought: $ 5,000 3) Are sufficient funds available to fund this contract? ® Yes ❑ No If no, please explain: 4) Check below how the services will be obtained: ❑ A Bid solicitation process in accordance to the MC 3.03.060 procedures will be conducted. ❑ MC 3.03.08(b) — Other Interagency Agreement procedure will be utilized. ® MC 3.03.08 — Contract Limits of $30,000 or less exempt procedure will be utilized. 5) Is this contract generall�Y�i:s cribed on the list of professional service contracts approved by the City Council? If the,a�question is "No" the contract will require approval from the City Council.) ,lh Yes ❑ No Fiscal ager Signature (Purchasing Approval) a eD 6) Amount, Business Unit (8 digits) and Object Code (5 digits) where funds are budgeted (Please note that a budget check will occur at the object code level): Account number Contractual Dollar Amount Business unit. object # Year 1(estimate) Year 2 (estimate) Year 3(estimate) see attached $ $ $ $ $ $ Department Head Signature(s) r of Finance's Signature Assistant City Manager's Signature APPROVED ❑ DENIED ❑ City Manager's Signature WA a. Jiff Dat Date �o L Date Date Date dac part i.doc / REV: December /2013 Z �Y MTEI^�JGt� CITY — i BEACH �r , . FG •' •1 i• �' q a Professional Service Approval Form PART 11 Date: 6/6/2014 Project Manager: Dahle Bulosan Requested by Name if different from Project Manager: Department: Finance AUG 0 4 2014 Finance Depailment PARTS I & II OF THE PROFESSIONAL SERVICES CONTRACTS APPROVAL FORM MUST BE COMPLETED BY THE REQUESTING DEPARTMENT AND SIGNED FOR APPROVAL. PART l & 11 MUST BE FILED WITH ALL APPROVED CONTRACTS. 1) Name of consultant: Digital Assurance Certification, LLC 2) Contract Number: FIN (Contract numbers are obtained through Finance Administration x 5630) 3) Amount of this contract: $5,000 Account number Contractual Dollar Amount Business unit. object # Year 1(estimate) Year 2 (estimate) Year 3(estimate) see attached $ $ $ 4) Is this contract less than $50,000? ® Yes ❑ No 5) Does this contract fall within $50,000 and $100,000? ❑ Yes ® No 6) Is this contract over $100,000? ❑ Yes ® No (Note: Contracts requiring City Council Approval need to be signed by the Mayor and City Clerk. Make sure the appropriate signature page is attached to the contract.) 7) Were formal written proposals requested from at least three available qualified consultants? ❑ Yes ® No 8) Attach a list of consultants from whom proposals were requested (including a contact telephone number.) 9). Attach Exhibit A, which describes the proposed scope of work. 10) Attach Fiscal B, vyf.Lrh descros the payment terms of the contract. rchasi Budget Manager Approval Signatur6 Director of Finance (or designee) Signature p a-ad4- Date (o/ 12,,1201 Date dac part ii.doc REV: December /2013 Risk Assessment/Compliance Review for SEC's Municipalities Continuin¢ Disclosure (MCDC) Initiative Contractual Dollar Amount (Estimate) Account Number FY 13/14 FY 14/15 FY 15/16 Business unit. Object # Year 1 Year 2 Year 3 Total 40140105.69365 $ 714.29 $ - $ - $ 714.29 2010A Lease Revenue Bond 40140106.69365 $ 714.29 $ $ $ 714.29 2011A Lease Revenue Bond 40540105.69365 $ 714.29 $ $ $ 714.29 CFD 2000-1 Refund 2013 40640101.69365 $ 714.29 $ $ $ 714.29 CFD 1990-1 40840101.69365 $ 714.28 $ $ $ 714.28 CFD 2002-1 41040101.69365 $ 714.28 $ $ $ 714.28 CFD 2003-1 Refund 2013 70740101.69365 $ 714.28 $ $ $ 714.28 Judgment Obligation Bonds $ 5,000.00 $ $ $ 5,000.00 Proposals Received from the Following Consultants: Consultant Contact Name Phone Amount Willdan Financial Services Dave Davies (951)587-3500 $ 14,000 Digital Assurance Certification, LLC Lisa Olsen (407)515-1100 $ 5,000 Han, Sunny From: William Hirata <whirata@DACBond.com> Sent: Thursday, June 05, 2014 2:06 PM To: Han, Sunny Cc: Lisa Olsen Subject: REVISED - MCDC-CRS TERM SHEET - HUNTINGTON BEACH Attachments: MCDC-CRS TERM SHEET - HUNTINGTON BEACH - v3.docx Ms. Han It was a pleasure talking with you earlier today. I have received the ACS list of bonds, and propose that we delete the following language on page A-4: "THE PARTIES UNDERSTAND THAT DAC IS NOT REVIEWING CDAS FOR BONDS WHICH MATURED OR WERE DEFEASED DURING THE MCDC REVIEW PERIOD" and replace it with the following language: "THE PARTIES UNDERSTAND THAT DAC'S REVIEW IS LIMITED TO CDA'S FOR BONDS WHICH WERE OUTSTANDING DURING THE MCDC REVIEW PERIOD, AS PROVIDED BY YOU ON THE ATTACHED EXHIBIT A." The ACS list will be attached as Exhibit A. If this is acceptable to you, please execute the attached and send back to us, and we will then execute a counterpart and return to you. Thanks, and please feel free to call me if you have any questions.