Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board of Finance approves three‑year contracts with PFM and PRAG as financial advisers; Moody's utility rating weakness noted
Summary
Treasury recommended awarding two advisory contracts — to PFM and Public Resources Advisory Group — for three years with two one‑year options; the board approved. Members discussed Moody's recent rating actions on utility debt and the city's plan to rebuild utility reserves.
The Baltimore City Board of Finance voted to approve two financial‑adviser contracts recommended by Treasury: Public Financial Management (PFM) and Public Resources Advisory Group (PRAG). Each contract is for a three‑year term with two additional one‑year extensions exercisable at the city's discretion.
Treasury staff said the city issued a request for proposals and received three responses: Davenport & Company (Towson), PFM (Philadelphia) and PRAG (New York). After a technical review of recent relevant experience—particularly work on general obligation bonds, revenue bonds and certificates of…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
