STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY. Minutes Consultant Committee Meeting October 21, 2015

Transcription

1 STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY Minutes Consultant Committee Meeting October 21, 2015 The Consultant Committee of the State of Connecticut Health and Educational Facilities Authority met in session at 12:30 p.m. on Wednesday, October 21, The meeting was called to order by Barbara Rubin, Board Chair, at 1:00 p.m. and, upon roll call, those present and absent were as follows: PRESENT: Barbara Rubin, Board of Directors Chair Sarah K. Sanders, (Rep. for Denise Nappier) ABSENT: Patrick Colangelo, Chair ALSO PRESENT: Jeanette Weldon, Executive Director Paula L. Herman, General Counsel Michael Morris, Managing Director Debra Pinney, Manager, Administrative Services Kathy Owens, Administrative Assistant of the Connecticut Health and Educational Facilities Authority

2 APPROVAL OF COMMITTEE MINUTES Ms. Rubin requested a motion to approve the Consultant Committee Minutes from the August 27, 2015 special meeting. Ms. Hammer moved to approve the minutes; Ms. Sanders seconded the motion. 1 Barbara Rubin APPOINTMENT OF FINANCIAL ADVISOR Mr. Morris reported that Staff received responses from eight firms seeking to provide financial advisory services to the Authority. Four were from the existing appointed financial advisors (Acacia Financial Group, A.C. Advisory, Inc., Fairmount Capital Advisors, and Public Financial Management) and four were from new firms (Lamont Financial Services, Omnicap Group, Phoenix Advisors, and Ponder & Co.) Mr. Morris provided a summary of the experience of the existing and new firms. A discussion ensued. 1 Ms. Hammer abstained from voting as she did not attend the August 27, 2015 special meeting. 2

3 Mr. Morris stated that Staff is recommending that the following firms serve as financial advisor to the Authority for the next three years: A.C. Advisory, Inc., Acacia Financial Group, and Fairmount Capital Advisors, Inc. In addition, Staff recommends retaining Public Financial Management as financial advisor for the Connecticut State University System s bond offerings and any other financial advisory services on an as needed basis. Ms. Rubin requested a motion to approve Staff s recommendations for financial advisors. Ms. Hammer moved to approve Staff s recommendations; Ms. Sanders seconded the motion. APPOINTMENT OF SPECIAL COUNSEL Ms. Herman reported that there were four responses to the Request for Proposal, three from existing appointed special counsel firms: Carmody Torrance Sandak & Hennessey LLP, McCarter & English LLP, and Shipman & Goodwin LLP, and one new firm, Day Pitney LLP, which currently serves as one of the Authority s bond counsel firms. Ms. Herman stated that Staff is pleased with the three firms that currently provide special counsel services. 3

4 Ms. Herman provided a brief summary of each firm s experience. Ms. Herman stated that Staff is recommending that the following three firms be selected to serve as special counsel for a period of up to three years: Carmody Torrance Sandak & Hennessey LLP, McCarter & English LLP, and Shipman & Goodwin LLP. Ms. Rubin requested a motion to approve Staff s recommendations for special counsel. Ms. Sanders moved to approve Staff s recommendations; Ms. Hammer seconded the motion. All were in favor. There being no further business, Ms. Rubin requested a motion to adjourn the meeting. Ms. Hammer motioned to adjourn; Ms. Sanders seconded the motion. 4

5 The meeting adjourned at 1:15 p.m. Respectfully submitted, Barbara Rubin, Board Chair 5