BERNALILLO COUNTY TAXPAYERS HIRE SOLE BIDDER FOR COUNTY BOND WORK

On Tuesday, May 10, 2005, the Bernalillo County Commission approved a contract between the County and the only law firm which had submitted a response to the request for proposals. The contract is for legal services in connection with bonds that may be issued by the County. A principal of the winning firm was quoted as saying, "We're normally the low bidder, the small firm. Our fees are less than other people's." Other lawyers said they didn't see the request for proposals. Albuquerque Journal, May 10-11, 2005.

The fees set forth in the bid were made public record when the contract became the subject of the vote by the Commissioners. It was not on the internet, but the fee schedule was available from the Purchasing Department upon request. This is the fee schedule that was approved:

. . . for all legal services rendered in connection with the issuance of
bonds or other obligations, in accordance with the following fee
schedule:

A. General Obligation Bonds, new issue, $1.00 per $1,000 face
amount of the bonds, . . . minimum fee of $10,000 per issue . . . .

B. Revenue Bonds, new issue, $1.25 per $1,000 face amount of
the bonds, with a minimum fee of $10,000 per issue . . . .

E. Conduit Financings, $3.00 per $1,000 face amount of Bonds up to $15,000,000 of bonds with a minimum fee of $25,000 plus $1.00 per $1,000 face amount of bonds over $15,000,000 up to $50,000,000, thereafter, $.50 per $1,000 face amount. All fees and expenses to be paid by the developer; and . . . .

No fees will be charged to the County for bond transactions that are not completed; . . . .

If the County proposed to issue general obligation bonds for $500 million, the lawyer fee would be $500 thousand. If the County proposed to issue such bonds for $5 million, the lawyer fee would be $5 thousand, upped to the $10 thousand minimum. If the issue is to be $100 million, the fee will be $100 thousand, for legal services in connection with a bond issue.

We pay the Chief Justice of our Supreme Court $106,960 per year, plus benefits.