BCC Minutes 01/23/1979 W
Naples. Florida. January 23, 1979
LET IT BE REMEMBERED, that the Board of County Commiss10ners in and for
the County of Collier. and also act1ng as the Governing Board(s) of such
spec1al districts as have been created accord1ng to law and having conducted
business herein, met on this date at 2:00 P.M. 1n Workshop Session in Building
"F" of the Courthouse Complex with the following members present for the
purpose of hearing financial consultant presentations:
CHAIRMAN: David C. Brown
VICE-CHAI~~N: Clifford Wenzel
John A. P1stor
C.R. "Russ" Wimer
Thomas P. Archer
ALSO PRESENT: William J. Reagan, Clerk. Harold L. Hall. Chief Deputy
Clerk/Fiscal Officer; C. W. Norman, County Manager. Donald A. Pickworth,
County Attorney; and Debbie Pantano, Deputy Clerk.
FINANCIAL CONSULTANT PRESENTATIONS ~~DE BY THE FOLLOWING FIRMS: FISCHER.
JOHNSON, ALLEN & BURKE: WILLIAM R. HOUGH & CO.: ARCH W. ROBERTS & CO.:
AND SOUTHEASTERN MUNICIPAL BONDS. INC.
FISCHER. JOHNSON, ALLEN & BURKE
Mr. David Fischer, of Fischer, Johnson~ Allen & Burke, introduced himself
as well as ~Ir. Bill Johnson of the same firm and expressed their appreciation
to the Board for allowing them to make a presentation. Mr. Fischer briefly
outlined the background of his firm and mentioned various projects they have
recently completed.
Mr. Johnson commented that his firm has been involved in marketing bonds,
one of which involved a certain county and another dealing with the Pelican Bay
Improvement District. He added that his firm has been marketing bonds in Collier
County for a lOllY . .me and is very familiar w1th the area.
Mr. Fischer mentioned that his firm \~as recently involved with a "pioneer
issue" with Pope County which was title Single Family Mortgage Revenue bonds
and has never been undertaken by any other county.
In response to Commissioner Wenzel, f.1r. Johnson commented that when his
company approaches government bodies. two principals are assigned to the project;
however. the people in the management portion of the firm do the actual work
on the project.
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January 23, 1979
WILLIAM R. HOUGH & CO.
Mr. Chuck Smith of William R. Hough & Co., submitted credentials to the
Board and commented that his firm has worked with the County over the past
seven years.
Mr. William R. Hough, Manager, stated that his firm has been involved
with Florida bond issues for the past 17 years, as well as dealing with
many major banking and insurance companies in the country. He proceeded
to list the various government agencies with which his firm has been involved,
stating that in 1978 his firm was managership or co-managership for 36% of
the bonds issued in Florida. being the largest volume managing underwriter
of Florida bonds for some Lime.
In response to Commissioner Wenzel.s request that the staff bring out
into the open any complaints they may have had with the William Hough Company
in the pllst. Wl1l~am Reag3n. Cleric, commented that he had found nothing wrong
with the firm as a financial consultant but there were other areas which had
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disturbed him concerning the recent $5 million bond issue.
County Attorney Pickworth stressed that it should be understood that the
consultant firm's point of contact would be the Uitlity Director and no one
'i!lse.
The Utility Director stated he is prepared to accept that responsibility
if the Board so desires.
Commissioner Wimer commented on the fact that when the contract had been
signed with t:.. "ompany for the bond issue before, two former staff members
had been misleading in their information to the Board regarding the fact the
contract was supposed to have been a continuing one and the Board was under
the imprer ion the contract dealt only with the issue at hand at that time.
ARCH W. ROBERTS & CO.
Mr. Ed McDermott. representing Arch W. Roberts & Co., introduced himself
as well as the President of the firm, Arch Roberts. He briefly gave a history
January 23, 1979
of the firm noting that there are offices throughout the State of Florida
as well as Atlanta. Georgia. Mr. McDermott explained that his firm practices
the "team concept" of working on issues and briefly outlined the procedure
his firm will take if selected as the Board's financial consultant.
Mr. Roberts commented that his firm is unique in their presentation
compared to the other firms in that Mr. McDermott resides in Naples and that
could prove to be valuable in their ability to serve the Board. He also
commented that there are two former County administrators on his staff who
would be involved with the project. He briefly listed various government
issues with which his firm has been involved.
Fiscal Officer Harold Hall commented that Mr. McDermott had assisted him
in evaluating the proposal from thp underwriter of the $5 milli~n bond issue.
SOUTHEASTERN NUNICIPAL BONDS. INC.
Mr. Robert Wagner of Southeastern Municipal Bonds, Inc., introduced
himself anrl Mr. ~ick Wag~er.
Mr. Be,zon, Utility Director. commente~ that Mr. Wagner had been associated
previously with the County's staff on a project this past year.
Mr. Dick Wagner, briefly gave some background on the firm noting that
in the six years the company has been in operation it has grown to be the
second in the state and twenty-ninth in the nation. He noted that all of the
clients they have represented are still with the firm. Mr. Wagner outlined
the company's "cash management" program which he stated is unique to the
businesses in the state. He commented that he could be available within 24 hour
notice. coming from rr~~ndo.
Mr. Robert Wagner stated he has principally worked with water and sewer
issues for many years in the acquisition and financing areas of such issues.
Commissioner Pistor mentioned that Mr. Wagner had assisted the County in
the Sewer District "A" issue.
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The interviews were completed at 3:37 P.M.
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