Title
Dept/ Agency: Finance
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Professional Service Contract
Purpose: Compliance with continuing disclosure regulations
Entity Name: To be determined
Entity Address: To be determined
Contract Amount: To be determined
Funding Source: To be determined
Contract Period: To be determined
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a
Additional Information:
Resolution ratifying and authorizing the undertaking of a continuing disclosure review and authorizing participation in the municipalities continuing disclosure cooperative initiative of the Division of Enforcement of the U.S. Securities and Exchange Commission
Professional Service Contract may be required in the event the City engages a Third-Party Disclosure Dissemination Agent (refer to Clause #1 below).
Finance Department is currently in the process of obtaining three (3) quotes from qualified vendors.
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WHEREAS, the City of Newark (the "City") has entered into continuing disclosure certificate(s) and/or agreement(s) in connection with certain of its prior bond and/or note issuance(s) (the "Prior Issuances"), agreeing to file certain financial information and operating data and/or certain enumerated event notices with the former nationally recognized municipal securities information repositories or the Municipal Securities Rulemaking Board (the "MSRB") pursuant to the provisions of Rule 15?2-12 of the Securities Exchange Act of 1934, as amended (the "Rule"); and
WHEREAS, the City has made certain representations regarding its continuing disclosures in bond and note offering documents in connection with its Prior Issuances; and
WHEREAS, in response to widespread concerns that many municipal issuers...
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