Exhibit 1 - Agenda Information SheetCity of Denton
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AGENDA INFORMATION SHEET
DEPARTMENT: Procurement & Compliance
ACM: David Gaines
DATE: March 1, 2022
SUBJECT
Consider adoption of an ordinance of the City of Denton, a Texas home-rule municipal corporation,
authorizing the City Manager to execute a Professional Services Agreement with McCall, Parkhurst &
Horton, LLP, for bond counsel services as set forth in the contract; providing for the expenditure of funds
therefor; and providing an effective date (PSA 7942 – Professional Services Agreement for bond counsel
services awarded to McCall, Parkhurst & Horton, LLP, in the not-to-exceed amount of $1,250,000.00).
INFORMATION/BACKGROUND
The proposed contract with McCall, Parkhurst, & Horton, LLP (“MPH”) is for bond counsel services. The
City has engaged with MPH for several years and has been very satisfied with the services provided. Mr.
Greg Schaecher is a lead attorney at MPH and is assigned to represent the City. Mr. Schaecher is always
available to City staff and assists with debt issuance and advises on all matters regarding debt including the
City’s two extendable commercial paper programs. MPH works with the City’s Financial Advisors, Hilltop
Securities, to ensure the City is meeting all legal requirements regarding debt issuances. The City’s Legal
Department is also pleased with the services provided by MPH and recommends a renewed contract for
bond counsel services.
In accordance with Texas Local Government Code 252.022, the procurement of professional services is
exempt from the requirement of competition-based selection.
RECOMMENDATION
Award a contract with McCall, Parkhurst & Horton, LLP, for bond counsel services, in a not-to-exceed
amount of $1,250,000
PRINCIPAL PLACE OF BUSINESS
McCall, Parkhurst & Horton, LLP
Dallas, TX
ESTIMATED SCHEDULE OF PROJECT
This is a five (5) year contract.
City Hall
215 E. McKinney Street
Denton, Texas
www.cityofdenton.com
FISCAL INFORMATION
These services will be funded from the Debt Service Fund. The annual payment amount is dependent on
the amount of bonds sold each year. In 2021, the City paid McCall, Parkhurst & Horton, LLP $346,498 for
bond counsel services. The City is estimating annual payments of $250,000 per year with a five-year
contract total of $1,250,000. The pricing schedule in the contract is as follows:
$5,000 for the first $1,000,000 of Bonds;
$1.00 per $1,000 of Bonds for the next $9,000,000 of Bonds;
$0.95 per $1,000 of Bonds for the next $30,000,000 of Bonds;
$0.90 per $1,000 of Bonds for the next $60,000,000 of Bonds; and
$0.50 per $1,000 of Bonds thereafter.
EXHIBITS
Exhibit 1: Agenda Information Sheet
Exhibit 2: Ordinance and Contract
Respectfully submitted:
Lori Hewell, 940-349-7100
Purchasing Manager
For information concerning this acquisition, contact: Mack Reinwand, 940-349-8132.
Legal point of contact: Marcella Lunn at 940-349-8333.