To: Board of Supervisors
From: Treasurer/Tax Collector
Agenda Section: Consent
Vote Requirement: Majority
SUBJECT:
title
Approval of an agreement with KNN Public Finance, LLC for Municipal Advisory Services Related to the County’s Long-term Financing Needs from Dec. 1, 2026 to Dec. 31, 2028 in the Amount of $100,000
end
RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Approve the attached agreement with KNN Public Finance, LLC for municipal advisory services in the amount not to exceed $100,000, or $25,000 per fiscal year (FY), for the period of Dec. 1, 2026 to Dec. 31, 2028; and
2. Authorize the Treasurer-Tax Collector to execute the agreement.
Body
STRATEGIC PLAN:
This action supports the following areas of your Board’s Strategic Plan.
Area of Focus: Core Services/Other
Strategic Plan Category: 9999 - Core Services/Other
DISCUSSION:
The Treasurer-Tax Collector requests approval of an agreement with KNN Public Finance, LLC (“KNN”) to provide municipal advisory services in connection with the County’s long-term financing and debt-related activities. Services may include financial analysis, evaluation of financing options, structuring of debt, coordination with bond counsel and other financing professionals and advisory support as needed. The agreement is structured as an hourly contract with an annual not-to-exceed amount, providing flexibility while maintaining cost control.
KNN Public Finance, LLC was selected as a sole source provider based on the firm’s experience providing municipal advisory services to Northern California counties with similar size, fiscal structures and financing needs as Humboldt County. KNN’s work with neighboring counties provides familiarity with regional market conditions, California public finance practices and financing considerations relevant to Northern California jurisdictions. This regional experience supports effective planning and informed decision-making related to the County’s long-term financing and debt-related activities. For these reasons. The Treasurer-Tax Collector is requesting a sole source Exception for this agreement.
County Counsel and Risk Management have reviewed the agreement. Approval of this item will provide the Treasurer-Tax Collector with the necessary authority to execute the agreement on behalf of the County.
SOURCE OF FUNDING:
General Fund
FINANCIAL IMPACT:
|
Expenditures (1100112) |
FY25-26 |
FY26-27 Projected* |
FY27-28 Projected* |
FY28-29 Projected* |
|
Budgeted Expenses |
$25,000 |
$25,000 |
$25,000 |
$25,000 |
|
Additional Appropriation Requested |
|
|
|
|
|
Total Expenditures |
$25,000 |
$25,000 |
$25,000 |
$25,000 |
*Projected amounts are estimates and are subject to change.
|
Funding Sources (1100112) |
FY25-26 |
FY26-27 Projected* |
FY27-28 Projected* |
FY28-29 Projected* |
|
General Fund |
$25,000 |
$25,000 |
$25,000 |
$25,000 |
|
Total Funding Sources |
$25,000 |
$25,000 |
$25,000 |
$25,000 |
*Projected amounts are estimates and are subject to change.
Narrative Explanation of Financial Impact:
The agreement with KNN Public Finance, LLC is structured as an hourly contract with an annual not-to-exceed amount of $25,000 per FY. For FYs 2025-26 through 2028-29 the total contract amount has a maximum payable of $100,000. However, costs will be incurred only if and when municipal advisory services are requested. Based on anticipated service needs, it is expected that total expenditures will be less than the maximum annual payable amount. Funding for this agreement in the amount of $25,000 was budgeted in FY 2025-26 in budget 1100-112 Treasurer Tax Collector.
OTHER AGENCY INVOLVEMENT:
County Administrative Office and Auditor Controller
ALTERNATIVES TO STAFF RECOMMENDATIONS:
The Board may choose not to approve the agreement; however, this would limit the County’s ability to obtain municipal advisory services on an as-needed basis in support of long-term financing and debt-related activities.
ATTACHMENTS:
1. Agreement with KNN Public Finance, LLC.
PREVIOUS ACTION/REFERRAL:
Meeting of: July 23, 2024
File No.: 24-858