HomeMy WebLinkAboutCity of Tamarac Resolution R-2004-036Temp. Reso # 10338 — February 12, 2004
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2004- 36
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF TAMARAC, FLORIDA AUTHORIZING THE APPROPRIATE
CITY OFFICIALS TO APPROVE AND EXECUTE THE
ASSIGNMENT, DELEGATION AND RELEASE AGREEMENT
AMONG THE CITY OF TAMARAC, WILLIAM R. HOUGH &
CO., AND RBC DAIN RAUSCHER, INC. FOR
UNDERWRITING SERVICES FOR THE ISSUANCE OF
UTILITIES REVENUE BONDS; PROVIDING FOR CONFLICTS;
PROVIDING FOR SEVERABILITY; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, on November 26, 2003, the City of Tamarac entered into an Agreement
with William R. Hough & Co. for underwriting services in response to Request for Proposals
RFP 03-26R for the issuance of Utilities Revenue Bonds, as authorized by Resolution
R2003-268, a copy of said Resolution is attached hereto as Exhibit "A"; and
WHEREAS, in correspondence to the City's Finance Director dated January 28,
2004, William R. Hough & Co. announced the merger of their firm with RBC Dain
Rauscher, Inc., resulting in the firm hereinafter being known as RBC Dain Rauscher,
effective February 27, 2004 contingent upon appropriate regulatory approval; a copy of
said correspondence is attached hereto as Exhibit °B"; and
WHEREAS, William R. Hough & Co. has requested that the original Agreement,
dated November 25, 2003, be assigned to RBC Dain Rauscher, Inc., a copy of said
request attached hereto as Exhibit "C"; and
WHEREAS, the City is currently engaged in the bond issuance process and it would
be in the best interest of the City to continue the relationship with the existing firm in order
to maintain continuity; and
Temp. Reso # 10338 — February 12, 2004
Page 2
WHEREAS, RBC Dain Rauscher, Inc., has indicated that the personnel currently
assigned to the bond issuance project, who are personally providing underwriting services,
will be employed by RBC Dain Rauscher, Inc. as of the effective date of the merger, and
will continue to be assigned to this project; and
WHEREAS, the City and RBC Dain Rauscher, Inc. desire to enter into the
Assignment, Delegation and Release Agreement among the City of Tamarac, William R.
Hough & Co., and RBC Dain Rauscher, Inc. to formalize the assignment of William R.
Hough Inc.'s rights, obligations and responsibilities to RBC Dain Rauscher Inc., as they
pertain to underwriting services for the issuance of Utilities Revenue Bonds, a copy of said
assignment agreement is attached hereto as Exhibit "D"; and
WHEREAS, the Director of Finance and the Purchasing and Contracts Manager
recommend approval and execution assignment agreement; and
WHEREAS, the City Commission of the City of Tamarac, Florida, deems it to be in
the best interest of the citizens and residents of the City of Tamarac to approve and
execute the Assignment, Delegation and Release Agreement among the City of Tamarac,
William R. Hough & Co., and RBC Dain Rauscher for underwriting services for the
issuance of Utilities Revenue Bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA:
SECTION 1: The foregoing "WHEREAS" clauses are hereby ratified and
confirmed as being true and correct and are hereby made a specific part of this Resolution.
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Temp. Reso # 10338 -- February 12, 2004
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SECTION 2: The appropriate City officials are hereby authorized to approve
and execute the Assignment, Delegation and Release Agreement among the City of
Tamarac, William R. Hough & Co., and RBC Dain Rauscher
SECTION 3: All resolutions or parts of resolutions in conflict herewith are
hereby repealed to the extent of such conflict.
SECTION 4: If any clause, section, other part or application of this Resolution
is held by any court of competent jurisdiction to be unconstitutional or invalid, in part or
application, it shall not affect the validity of the remaining portions or applications of this
Resolution.
SECTION 5: This Resolution shall become effective immediately upon its
passage and adoption.
Tk
PASSED, ADOPTED AND APPROVED this day of 2004.
j ,DOE SCHREIBER
'Mayor
ATTEST:
RECORD OF COMMISSION VOTE:
MARION SWENSON, CMC MAYOR SCHREIBER
CITY CLERK DIST 1: COMM. PORTNER
DIST 2: COMM. FLANSBAUM-TALABISCO
I HEREBY CERTIFY that DIST 3: COMM. SULTANOF
I have a l5roved this DIST 4: V/M ROBERTS
RES�OVCITIG N asp former
MITCHELL &K
CITY ATT RP
1
1
E
EXHIBIT A
TR #10338 Temp Reso #10270-October 8, 2003
Revision: October 15, 2003
Revision: October 16, 2003
Page 1
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2003-
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
TAMARAC, FLORIDA, AUTHORIZING THE APPROPRIATE
CITY OFFICIALS TO AWARD RFP 03-26R, "UNDERWRITING
AND FINANCIAL ADVISORY SERVICES", TO AND TO
EXECUTE AN AGREEMENT WITH WILLIAM R. HOUGH & CO.,
FOR UNDERWRITING SERVICES, IN AN AMOUNT NOT TO
EXCEED FOUR DOLLARS AND FIFTY-FIVE CENTS ($4.55)
PER ONE THOUSAND DOLLAR ($1,000) BOND ISSUED, IN
CONJUNCTION WITH THE PROPOSED ISSUANCE OF
UTILITIES REVENUE BONDS; PROVIDING FOR CONFLICTS;
PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the City has determined a need for underwriting services for
the proposed issuance of Utilities Revenue Bonds; and
WHEREAS, the City of Tamarac publicly advertised RFP 03-26R,
"Underwriting and Financial Advisory Services" on Sept. 9 and Sept. 14, 2003, a
copy of said RFP is attached hereto as Exhibit 1; and
WHEREAS, eleven (11) firms were solicited, and six (6) responses were
received, from the following firms:
1. Dunlap & Associates, Inc.
2. First Southwest Company
3. Kirkpatrick Pettis Smith & Polian, Inc.
4, Public Financial Management
5. Wachovia Bank, N.A.
6. William R. Hough & Company; and
WHEREAS, an Evaluation and Selection Committee, consisting of the
Assistant City Manager, Director of Finance, and the Finance and Policy Officer
Temp Reso #10270-October 8, 2003
Revision: October 15, 2003
Revision: October 16, 2003
Page 2
conducted an extensive evaluation of each proposal to determine each firm's
responsiveness to the City's requirements; and
WHEREAS, the Evaluation and Selection Committee determined that
Kirkpatrick Pettis Smith & Polian, Inc., and William R. Hough & Company were
ranked as the top two (2) firms on the basis of experience, including experience
with Florida financings, capital position, marketing strategy, innovative technique
and cost of services, a copy of said evaluation total ranking is attached hereto as
Exhibit 2; and
WHEREAS, the Municipal Securities Rulemaking Board (MSRB) Rule G-
23(d) does not allow the same firm to provide both financial advisory and
underwriting services, thereby necessitating a separate award and contract for
each service; and
WHEREAS, William R. Hough & Company provided the lowest cost for
underwriting services, and
WHEREAS, the Evaluation and Selection Committee entered into the
contract negotiation phase with William R. Hough & Co.; and
WHEREAS, a mutually acceptable agreement has been negotiated
between the City and William R. Hough & Co., a copy of said agreement is
attached hereto as Exhibit 3; and
WHEREAS, the Director of Finance and the Purchasing and Contracts
Manager recommend that RFP 03-25R, "Underwriting and Financial Advisory
Services" be awarded to, and an agreement executed with, William R. Hough &
Temp Reso #10270-October $, 2003
Revision: October 15, 2003
Revision: October 16, 2003
Page 3
Co. for Underwriting services in an amount not to exceed Four Dollars and fifty-
five cents ($4.55) per one thousand dollar ($1,000) bond issued, in conjunction
with the proposed issuance of Utilities Revenue Bonds; and
WHEREAS, the City Commission of the City of Tamarac, Florida deems it
to be in the best interest of the citizens and residents of the City of Tamarac to
award RFP-03-26R to, and execute an Agreement with, William R. Hough & Co.
in an amount not to exceed Four Dollars and fifty-five cents ($4.55) per one
thousand dollar ($1,000) bond issued to provide Underwriting services for the
proposed issuance of Utilities Revenue Bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF TAMARAC, FLORIDA:
SECTION 1: The foregoing "WHEREAS" clauses are hereby
ratified and confirmed as being true and correct and are hereby made a specific
part of this Resolution.
SECTION 2: The award of RFP 03-26R, "Underwriting and
Financial Advisory Services", to and the execution of an agreement with William
R. Hough & Co, in an amount not to exceed Four Dollars and fifty-five cents
($4.55) per one thousand dollar ($1,000) bond issued for providing Underwriting
services in the issuance of Utilities Revenue Bonds is hereby approved.
SECTION 3: All resolutions or parts of resolutions in conflict
herewith are hereby repealed to the extent of such conflict.
SECTION 4: If any clause, section, other part or application of this
Resolution is held by any court of competent jurisdiction to be unconstitutional or
Temp Reso #10270-October 8, 2003
Revision: October 15, 2003
Revision: October 16, 2003
Page 4
invalid, in part or application, it shall not affect the validity of the remaining
portions or applications of this Resolution.
SECTION 5: This Resolution shall become effective immediately
upon its passage and adoption.
PASSED, ADOPTED AND APPROVED this 26t' day of November, 2003.
ATTEST:
MARION SWENSON, CMC
CITY CLERK
I HEREBY CERTIFY that
I have approved this
RESOLUTION as to form.
i�
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MIT-CHELL, S. 0AFT
CITY AT-roF(NEY
JOE SCHREIBER, MAYOP,
RECORD OF COMMISSION VOTE:
MAYOR SCHREIBER
DIST 1: COMM. PORTNER
DIST 2: COMM. FLANSBAUM-TALABISCO.
DIST 3: COMM. SULTANOF
DIST 4: VIM ROBERTS�--
EXHIBIT A .,
TR # 10338
;Div
AGREEMENT FOR PROFESSIONAL SERVICES
a THIS AGREEMENT made and entered into this �2 � day of
GL _ N�✓tiro e,�
20 , by and between the City of Tamarac, a municipal corporation of the State of Florida
with principal offices located at 7525 NW 88`h Avenue, Tamarac FL 33321, hereinafter
referred to as CITY, and William R, Hough & Co., a Florida corporation with principal offices
located at 100 Second Avenue South, Suite 800, St. Petersburg FL 33701, hereinafter
referred to as CONSULTANT:
WHEREAS, the CITY intends to utilize an Underwriter to oversee the issuance of
Utilities Revenue Bonds, Series 2003; and,
WHEREAS, the CITY requires certain professional services in connection with
said Underwriting services; and,
WHEREAS, the CONSULTANT represents that it is capable and prepared to
provide such Services:
NOW THEREFORE, in consideration of the promises contained herein, the parties
hereto agree as follows:
ARTICLE 1 - EFFECTIVE DATE
The effective date of this Agreement shall be upon notice to proceed and is
transaction -specific, as contained in the scope of Request for Proposals (RFP) 03-26R.
ARTICLE 2 - SERVICE TO BE PERFORMED BY CONSULTANT
The CONSULTANT shall perform the services in accordance with the provisions
contained in the request for proposals as specifically stated in the general Scope of
Services, including the additional services required of the Underwriter as referenced in
RFP 03-26R, and as may be specifically designated and additionally authorized by the
CITY. Such additional authorizations will be in the form of a Purchase Order. Each
Purchase Order will set forth a specific Scope of Services, amount of compensation and
completion date.
ARTICLE 3 - COMPENSATION
The CITY shall pay CONSULTANT in accordance with the provisions contained in
RFP 03-26R as specifically stated in the Fee Proposal, Underwriter's Compensation,
which is attached hereto and incorporated by reference as part of this Agreement.
ARTICLE 4 - STANDARD OF CARE
CONSULTANT shall exercise the same degree of care, skill, and diligence in the
performance of the Services as is ordinarily provided by a professional under similar
circumstances and CONSULTANT shall, at no additional cost to the CITY, re -perform
services which fail to satisfy the foregoing standard of care.
ARTICLE 5 - INDEMNIFICATION
CONSULTANT shall, in addition to any other obligation to indemnify the CITY and
to the fullest extent permitted by law, protect, defend, indemnify and hold harmless the
CITY, their agents, elected officials and employees from and against all claims, actions,
liabilities, losses (including economic losses), costs arising out of any actual or alleged:
`a . •I .
(;i?� ! Cw�m :r,r, '. •, �i H::rr h� irly � rr( (;::�� tt r ?: iJl�l::lOr!
a). Bodily injury, sickness, disease or death, or injury to or destruction of tangible property
including the loss of use resulting therefrom, or any other damage or loss arising out of or
resulting, or claimed to have resulted in whole or in part from any actual or alleged act or
omission of the CONSULTANT, any subconsultant, anyone directly or indirectly employed
by any of them, of anyone for whose acts any of them may be liable in the performance of
the WORK; or b). violation of law, statute, ordinance, governmental administration order,
rule, regulation, or infringement of patent rights by CONSULTANT in the performance of
the Work; or c). liens, claims or actions made by the CONSULTANT or any subconsultant
under workers compensation acts; disability benefit acts, other employee benefit acts or
any statutory bar. Any cost of expenses, including attorney's fees, incurred by the CITY to
enforce this agreement shall be borne by the CONSULTANT.
Upon completion of all Services, obligations and duties provided for in this
Agreement, or in the event of termination of this Agreement for any reasons, the terms
and conditions of this Article shall survive indefinitely.
ARTICLE 6 - INDEPENDENT CONTRACTOR
CONSULTANT undertakes performance of the Services as an independent
contractor and shall be wholly responsible for the methods of performance. The CITY
shall have no right to supervise the methods used, but the CITY shall have the right to
observe such performance. CONSULTANT shall work closely with the CITY in performing
Services under this Agreement.
ARTICLE 7 - COMPLIANCE WITH LAWS
In performance of the Services, CONSULTANT will comply with applicable
regulatory requirements including federal, state, and local laws, rules regulations, orders,
codes, criteria and standards.
ARTICLE 8 - INSURANCE
During the performance of the Services under this Agreement, CONSULTANT
shall maintain the following insurance polices, and provide originals or certified copies of
all policies, and shall be written by an insurance company authorized to do business in
Florida.
1. Worker's Compensation Insurance: The CONSULTANT shall procure and
maintain for the life of this Agreement, Workers' Compensation Insurance
covering all employees with limits meeting all applicable state and federal
laws. This coverage shall include Employer's Liability with limits meeting all
applicable state and federal laws. This coverage must extend to any
subconsultant that does not have their own Workers' Compensation and
Employer's Liability Insurance. The policy must contain a waiver of
subrogation in favor of the City of Tamarac, executed by the insurance
company. Sixty-(60) days notice of cancellation is required and must be
provided to the City of Tamarac via Certified Mail.
2_ Comprehensive General Liability: The CONSULTANT shall procure and
maintain, for the life of this Agreement, Comprehensive General Liability
Insurance. This coverage shall be on an "Occurrence" basis. Coverage
shall include Premises and Operations; Independent Contractors' Products
and Completed Operations and Contractual Liability with specific reference
of Article 5 of this Agreement. This policy shall provide coverage for death,
personal injury or property damage that could arise directly or indirectly
from the performance of this Agreement.
The Minimum Limits of Coverage shall be $1,000,000 per occurrence, Combined
Single Limit for Bodily Injury Liability and Property Damage Liability.
The CITY must be named as an additional insured unless Owners and
Contractors' Protective Coverage is also provided, or required. Sixty (60) days written
notice must be provided to the CITY via Certified Mail in the event of cancellation.
3. Business Automobile Liability: The CONSULTANT shall procure and
maintain, for the life of the Agreement, Business Automobile Liability
Insurance.
4. Professional Liability (Errors and Omissions) Insurance' $1,000,000
The minimum limits of coverage shall be $1,000.000 per Occurrence, Combined
Single Limit for Bodily Injury Liability and Property Damage Liability. This coverage shall
be an "Any Auto" type policy. The CITY must be listed as an Additional Insured under the
Policy. Sixty-(60) days written notice must be provided to the CITY via Certified Mail in the
event of cancellation.
In the event that subconsultants used by the CONSULTANT do not have
insurance, or do not meet the insurance limits, CONSULTANT shall indemnify and hold
harmless the CITY for any claim in excess of the subconsultants' insurance coverage,
arising out of negligent acts, errors or omissions of the subconsultants.
CONSULTANT shall not commence work under this Agreement until all insurance
required as stated herein has been obtained and such insurance has been approved by
the CITY.
ARTICLE 9 - CITY'S RESPONSIBILITIES
The CITY shall be responsible for providing access to all project sites, and
providing information on hand that are available in the files of the CITY the exception of
the City Attorney's files that are subject to confidentiality.
ARTICLE 10 -TERMINATION OF AGREEMENT
The obligation to continue Services under this Agreement may be terminated for
cause by either party upon seven (7) days' written notice of substantial failure by the other
party to perform in accordance with the terms hereof through no fault of the terminating
party.
CITY shall have the right to terminate this Agreement or suspend performance
thereof without cause for the CITY's convenience upon written notice to CONSULTANT,
and CONSULTANT shall terminate or suspend performance of Services on a schedule
acceptable to CITY. In the event of termination or suspension for CITY's convenience,
CITY shall pay CONSULTANT for all Services performed through the date of notice of
termination or suspension.
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ARTICLE 11 - NONDISCLOSURE OF PROPRIETARY INFORMATION
CONSULTANT shall consider all information provided by CITY and all reports,
studies, calculations, and other documentation resulting from the CONSULTANT's
performance of the Services to be proprietary unless such information is available from
public sources. CONSULTANT shall not publish or disclose proprietary information for
any purpose other than the performance of the Services without the prior written
authorization of CITY or in response to legal process.
ARTICLE 12 - UNCONTROLLABLE FORCES
Neither the CITY nor CONSULTANT shall be considered to be in default of this
Agreement if delays in or failure of performance shall be due to Uncontrollable Forces,
the effect of which, by the exercise of reasonable diligence, the non -performing party
could not avoid. The term "Uncontrollable Forces" shall mean any event which results in
the prevention or delay of performance by a party of its obligations under this Agreement
and which is beyond the reasonable control of the nonperforming party. It includes, but is
not limited to fire, flood, earthquakes, storms, lightning, epidemic, war, riot, civil
disturbance, sabotage, and governmental actions.
Neither party shall, however, be excused from performance if nonperformance is
due to forces, which are preventable, removable, or remediable, and which the
nonperforming party could have, with the exercise of reasonable diligence, prevented,
removed, or remedied with reasonable dispatch. The nonperforming party shall, within a
reasonable time of being prevented or delayed from performance by an uncontrollable
force, give written notice to the other party describing the circumstances and
uncontrollable forces preventing continued performance of the obligations of this
Agreement.
ARTICLE 13 - GOVERNING LAW AND VENUE
This Agreement shall be governed by the laws of the State of Florida. Any and all
legal action necessary to enforce the Agreement will be held in Broward County and the
Agreement will be interpreted according to the laws of Florida.
ARTICLE 14 - MISCELLANEOUS
14.1 Nonwaiver
A waiver by either CITY or CONSULTANT of any breach of this Agreement shall
not be binding upon the waiving party unless such waiver is in writing. In the event of a
written waiver, such a waiver shall not affect the waiving party's rights with respect to any
other or further breach. The making or acceptance of a payment by either party with
knowledge of the existence of a default or breach shall not operate or be construed to
operate as a waiver of any subsequent default or breach.
14.2 Severability
Any provision in this Agreement that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof or affecting the
validity or enforceability of such provisions in any other jurisdiction. The nonenforcement
.........
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of any provision by either party shall not constitute a waiver of that provision nor shall it
affect the enforceability of that provision or of the remainder of this Agreement.
The provisions of this section shall not prevent the entire Agreement from being
void should a provision, which is of the essence of the Agreement, be determined to be
void.
ARTICLE 15 - INTEGRATION AND MODIFICATION
This Agreement is adopted by the CITY and CONSULTANT as a complete and
exclusive statement of the terms of the Agreement between the CITY and
CONSULTANT. This Agreement supersedes all prior agreements, contracts, proposals,
representations, negotiations, letters or other communications between the CITY and
CONSULTANT pertaining to the Services, whether written or oral.
The Agreement may not be modified unless such modifications are evidenced in
writing signed by both the CITY and CONSULTANT.
ARTICLE 16 - SUCCESSORS AND ASSIGNS
The CITY and CONSULTANT each binds itself and its director, officers, partners,
successors, executors, administrators, assigns and legal representatives to the other
party to this Agreement and to the partners, successors, executors, administrators,
assigns, and legal representatives.
ARTICLE 17 - CONTINGENT FEES
The CONSULTANT warrants that it has not employed or retained any company or
person, other than a bona fide employee working solely for the CONSULTANT to solicit
or secure this Agreement and that it has not paid or agreed to pay any person, company,
corporation, individual or firm, other than a bona fide employee working solely for the
CONSULTANT, any fee, commission, percentage, gift or any other consideration
contingent upon or resulting from the award or making of this Agreement.
ARTICLE 18 - TRUTH -IN -NEGOTIATION CERTIFICATE
Execution of this Agreement by the CONSULTANT shall act as the execution of a
truth -in -negotiation certificate certifying that the wage rates and costs used to determine
the compensation provided for in this Agreement are accurate, complete and current as
of the date of the Agreement and no higher than those charged the CONSULTANTS
most favored customer for the same or substantially similar service.
The said rates and cost shall be adjusted to exclude any significant sums should
the CITY determine that the rates and costs were increased due to inaccurate,
incomplete or noncurrent wage rates or due to inaccurate representations of fees paid to
outside consultants. The CITY shall exercise its rights under this "Certificate" within one
(1) year following payment.
ARTICLE 19 - OWNERSHIP OF DOCUMENTS
CONSULTANT shall be required to work in harmony with other consultants relative
to providing information requested in a timely manner and in the specified form. Any and
all documents, records, disks, original drawings, or other information shall become the
property of the CITY upon completion for it's use and distribution as may be deemed
appropriate by the CITY.
C.,!lv ;' Ti'L'il[:1;'!(: f"!;!?:/!ciiif iL 7'1i �liai(1?i(:': nIY!jfG!(
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ARTICLE 20 - NOTICE
Any notice, demand, communication, or request required or permitted hereunder
shall be in writing and delivered in person or sent by certified mail, postage prepaid as
follows:
CITY
City Manager
City of Tamarac
7525 NW 88th Avenue
Tamarac, Florida 33321-2401
With a copy to the City Attorney at the same address.
CONSULTANT:
Kevin M. Conitz, Senior Vice President
William R. Hough & Co.
100 Second Avenue South, Suite 800
St. Petersburg, FL 33701
PH: 727-895-8853
Notices shall be effective when received at the address specified above. Changes
in the respective addresses to which such notice may be directed may be made from time
to time by any party by written notice to the other party. Facsimile is acceptable notice
effective when received, however, facsimiles received (i.e.; printed) after 5:00 p.m. or on
weekends or holidays, will be deemed received on the next business day. The original of
the notice must additionally be mailed as required herein.
Nothing contained in this Article shall be construed to restrict the transmission of
routine communications between representatives of CONSULTANT and CITY.
/
IN WITNESS WHEREOF, the parties hereby have made and executed this
Amendment to Agreement on the respective dates under each signature, the City of
Tamarac signing by and through its Mayor and City Manager, and William R. Hough &
Co., signing by and through its Senior Vice President, duly authorized to execute same.
ATTEST: I
_ ��2 �L ti•�-m•._' •..,4� t, r ,: ;yam.
Marion Swenson, CMC
City Clerk
Date
ATTEST:
t (Corporat( S retary)
/Type/Print Name of Corporate Secy,
(CORPORATE SEAL)
CITY OF TA fMARAC
Joe Schreiber, Mayor
/ A I--�; / o _'�
Date
Jeffrey 2"Zi!i!le�,C—iiy—
Date
Approved as to, form andVegal sufficiency:
Mitchell S, Kraft, City ttorney
Date
William R. Hough & Co.
Companyame
Signature of Senior Vice Pres' er�t
1
Kevin M. Conitz
Type/Print Name of Senior Vice President
Date
/ (_ ) / r / ✓
City
CORPORATE ACKNOWLEDGEMENT
STATE OF FLORIDA
63-1
COUNTY OF ��, - !N
I HEREBY CERTIFY that on this day, before me, an Officer duly authorized in the State
aforesaid and in the County aforesaid to take acknowledgments, personally appeared
Kevin M. Conitz, Senior Vice President of William R. Hough & Co., a Florida
Corporation, to me known to be the person(s) described in and who executed the
foregoing instrument and acknowledged before me that he/she executed the same.
WITNESS my hand and official seal this. / `> day of j
20
Signature of Notary Public
HEuEN M. EWIN State of Florida at Large
My COMMISSION ! DD 049M
EXPIRES; Augutl 19, 2005
1$p44YOTARY FL Notuy Swri e & 80r cjM NC.
Print, Type or Stamp
Name of Notary Public
[ Personally known to me or
❑ Produced Identification
Type of I.D. Produced
❑ DID take an oath, or
DID NOT take an oath.
City of Tamarac _ Purchasing and Contracts Division
William R. Hough & Co.
REQUEST FOR PROPOSALS
RFP 03-26R
Underwriting and Financial Advisory Services,
Utilities Revenue Bonds, Series 2003
Fee Proposal:
Underwriters' Compensation
Underwriter's Discount (per $1000 bonds) $ 4.55 ( 1 )
Reimbursable Expenses* not to exceed $
M
*List what is included in reimbursable expenses:
Underwriter's Counsel Fees and Expenses $0.00
It is our understanding that the firm of Akerman, Senterfitt has Peen engaged by
If that is true and if the firm is willing
to process the bond purchase agreement and offer a 10-b-5 opinion, there would be
no fee for underwriter's counsel.
(1) Includes expenses listed below
Financial Advisor Compensation
Flat Fee $ 30, 000
Reimbursable Expenses* not to exceed $ 2, 000
'List what is included in reimbursable expenses:
Travel and out-of-pocket expenses
federal ex ress or other delivery charges
teleconferencing fees
This Fee Proposal is to be enclosed in a sealed envelope
with your submittal.
n
AMERICAN INTERNATIONAL
SPECIALTY LINES INSURANCE COMPANY
A Member Company
of American International
Group, Inc.
A Capital Stock Insurance Company
175 Water Street
New York, N.Y. 10038
POLICY NUMBER: 295-53-50 REPLACEMENT OF POLICY NUMBER: 279-63-82
SECURITIES BROKER/DEALER'S PROFESSIONAL LIABILITY INSURANCE
NOTICE: THIS INSURER IS NOT LICENSED IN THE STATE OF NEW YORK AND IS NOT
SUBJECT TO ITS SUPERVISION.
NOTICE: EXCEPT TO SUCH EXTENT AS MAY OTHERWISE BE PROVIDED HEREIN, THE
COVERAGE OF THIS POLICY IS GENERALLY LIMITED TO LIABILITY FOR ONLY THOSE
CLAIMS THAT ARE FIRST MADE AGAINST THE INSUREDS DURING THE POLICY PERIOD
AND REPORTED IN WRITING TO THE INSURER PURSUANT TO THE TERMS HEREIN.
PLEASE READ THE POLICY CAREFULLY AND DISCUSS THE COVERAGE THEREUNDER WITH
YOUR INSURANCE AGENT OR BROKER.
*J0 CE:--TH1E- LIMIT OF LIABILITY AVAILABLE TO -PAY JUDGMENTS --OR - SETTLEMENTS
SHALL BE REDUCED BY AMOUNTS INCURRED FOR LEGAL DEFENSE. AMOUNTS
INCURRED FOR LEGAL DEFENSE SHALL BE APPLIED AGAINST THE RE!"4111&P. tilJA_ MOENT.
DECLARATIONS Surplus Lines Agent l#.A125683
Wallace, Welch &
ITEM 1. BROKER/DEALER: WILLIAN R. HOUGH & CO. Producing Agent Willingham
Address St. Petersbur FL
MAILING ADDRESS: 100 SECOND AVENUE SOUTH Thi insurance is issued pursuant to
SAINT PETERSBURG, fL 33701-433he Florida Surplus Lines Law
ITEM 2. POLICY PERIOD: From: April 30, 2003 To: Apri 1 30, 2004
(12:01 A.M. standard time at the address stated in Item 1)
Persons insured By Surplus lines Carriers do not have the
protection of the Florida Insurance Guaranty Act to the
ITEM 3. LIMIT OF LIABILITY extent of any Right of Recovery for the obligation of an
1p$ply t Unlicensed Insurer.
A. Coverage A. 3.: s1,8�8,b8b each Loss (including Defense Costs)
11,000,000 aggregate for all Loss (including Defense Costs)
B. All other coverages: $1,000,000 each Loss (including Defense Costs)
$1,000,000 aggregate for all Loss (including Defense
Costs)
C. Policy Aggregate: $1,000,000 for all Loss (including Defense Costs)
arising from all Claims under this policy in
the aggregate
ITEM 4. COINSURANCE (paid by Broker/Dealer)
Coverage A. 3. FLAT CANCELLATION 85%
7191374 All other coverages Not Permitted None
67800 (3/97) _ - Page 1
ITEM 5. RETENTION: (each Loss including Defense Costs)
A. $100,000 Broker/Dealer Retention
B. $5,000 Registered Representative Retention
C. $5,000 Registered Representative Life Products Retention
(partially reduced under Insuring Agreement C. 2. under some circumstances)
ITEM 6. RETROACTIVE DATE. January 30, 1999
ITEM 7. PREMIUM: $47,200 + Policy Fee 35.00 + .31 Service Fee 141.71 +
5% State Tax 2,361.75 = $49,738.46 Total
Premium for Certified Acts of Terrorism Coverage under Terrorism Rises In3ur,ance Act
2002: Not applicable, coverage rejected by insured.
Any coverage providad for Iessoo c_nu_-,P i b; an F,` cf a- r'efined by TRIA (TRIA
Losses) may be p? ; ... the Ur 'o:,,.ula established b
as 1'^�:v� c'. '., ' ` ;, �� �� -• ntated by TRIA.
TRIA fo. . -. �:.. a s r.�; . -_ . ._„�� �;ecu:a.��mu,
_-Ahe daduct+"r- -tn x -.... r- . ��:.�.-. cf _...__
year
A u .y t`t:. T horeto
ITEM 8. BROKER: HULL & CO
2150 SOUTH ANDREJa AVENUE
fORT LAUDERDALE, fL 33316
B
By AuthorizR l�Representative or
Countersignature (in states where applicable)
I 7191374
r,7nnn 11 ia7)
Perna h
' W ILLIAM R. HOUGH
� �L �� EXHIBIT B
TR #10338
January 28, 2004
Ms. Dona Newman
Director of Finance
City of Tamarac
7525 N.W. 88th Avenue
Tamarac, Florida 33321-2401
Dear Ms. Newman:
We are pleased to announce that William R. Hough & Co. is in the process of merging with RBC
Dain Rauscher, Inc., a wholly owned subsidiary of Royal Bank of Canada. We would like to share with
you how we made the decision and why our combination with RBC Dain holds such strong potential for
William R. Hough & Co. clients.
William R. Hough & Co. has been in business for forty-two years and we are proud of our
reputation as a firm with high ethical standards. The firm has historically taken a regional approach to the
business, believing that we can best serve our clients if we have a strong knowledge of and presence in
the community. This approach has resulted in our bankers being strategically located throughout the State
in order to provide immediate access to our clients. In the RBC Dain Rauscher firm, we have found a
like-minded partner. While RBC Dain Rauscher is a member of the New York Stock Exchange and other
major exchanges, it has the same regional roots and core values as William R. Hough & Co.
Consequently, you can expect the same high level of service and dedication to which you have become
accustomed.
The merger of William R. Hough & Co. with RBC Dain Rauscher will produce one of the largest
groups of investment bankers and fixed income professionals in the country and certainly within the state
of Florida. This group of bankers, located throughout the country, has a diverse knowledge base from
which to draw in serving our clients. Furthermore, as a subsidiary of Royal Bank of Canada, a "Aa2/AA-
" rated banking institution, the firm of RBC Dain Rauscher will bring the firm's clients a wide variety of
resources and flexible financial products.
The merger is scheduled to be completed on February 27, 2004, subject to regulatory approval.
Until that time, we will be conducting all business as William R. Hough & Co. We thank you for the
opportunity to share this news with you and will keep you informed as the merger progresses. It has been
our pleasure serving you as a client and we very much look forward to working with you in the future.
Cordially Yours,
WILLIAM R. HOUGH & CO.
Kevin M. Conitz
Senior Vice President
100 2nd Avenue South, Suite 800, Saito Petersburg, FL 3.3701-4.337 Phone: (800) 800.0061 Fax: (727) 895-8895
MEMBER: NASD/SIPC
EXHIBIT C
TR # 10338
WI9.1
LLIAM R. HOUGH & CO.
I it v e s t in e n i s S i n c c 1 962
February 13, 2004
Mr. Jeffrey L. Miller,
City Manager, City of Tamarac
7525 NW 88°i Avenue
Tamarac, FL 33321
Dcar Mr. Miller:
On December 16, William R. Hough & Co. and RBC Dain Rauscher Inc. announced that RBC
Dain has agreed to acquire Hough, subject to regulatory approval, in a transaction that is expected to close
February 27, 2004. RBC Dain, a full -service securities firm based in Minneapolis, has a national public
finance practice that is the largest outside of Wall Street.
William R. Hough & Co. has a contract with the City executed November 26, 2003 for
underwriting services related to the upcoming Capital Improvement Revenue Bonds.
Based on the acquisition, we are requesting that the City formally assign the contract and all its
rights and responsibilities to R.BC Dain, effective March 1, 2004, All terms, conditions and pricing will
remain the same.
Sincerely,
WILLIAM R. HOUGH & CO.
, /' , C,, �/ �
Kevin M. Conitz
Senior Vice President
KMC/he
cc: Dona Newman, Director of Finance
Leanne Williams, Finance & Policy Officer
100 Second Avenue South, Suite 800, Saint Petersbm-lg, IT 33701-43 37 Tull 1�icc: 800 800-0061 Local: 727 895-8880 1'ax: 727 895-889.5
MPABER. tiASI),/till'('
„�1v.huugh.Coll ,
VD? ............ ... ....... . ......... .... ... ..............
ASSIGNMENT, DELEGATION AND RELEASE AGREEMENT
Among
CITY OF TAMARAC
And
WILLIAM R. HOUGH & CO. A FLORIDA CORPORATION
I,TT:I
RBC DAIN RAUSCHER INC. A MINNESOTA CORPORATION
For
UNDERWRITING SERVICES ISSUANCE OF UTILITIES REVENUE BONDS
THIS ASSIGNMENT, DELEGATION AND RELEASE AGREEMENT ("Assignment
Agreement") is made by and among CITY OF TAMARAC, a municipal corporation, its
successors and assigns, hereinafter referred to as "CITY," through its City Commission,
2%
WILLIAM R. HOUGH, INC., a Florida corporation, its successors and assigns,
hereinafter referred to as "CONTRACTOR"
• •J
RBC DAIN RAUSCHER, INC., a Minnesota corporation, authorized to do business
in the State of Florida, its successors and assigns, hereinafter referred to as "ASSIGNEE."
WITNESSETH
WHEREAS, CITY utilized the due diligence established by the City seeking
responses from qualified firms to provide Underwriting Services for the issuance of Utilities
Revenue Bonds; and
WHEREAS, CONTRACTOR, on the basis of Proposal made to CITY (dated
September 5, 2003) was selected by CITY to provide this service and entered into an
agreement ("Agreement") with CITY dated November 26, 2003; and
WHEREAS, ASSIGNEE has acquired the assets of William R. Hough, Inc., a Florida
Corporation, through merger, effective February 27, 2004 and subject to regulatory agency
approval, including the rights, duties and obligations of CONTRACTOR; and
WHEREAS, ASSIGNEE has the legal authority to execute this Assignment
Agreement on behalf of CONTRACTOR; and
rA�
�Sirm and ..,C ,,,.o'.i:�
.. .._...—..—...._.
P
WHEREAS, the parties desire to enter into this Assignment Agreement in order to
formalize the assignment of CONTRACTOR's rights, obligations and responsibilities under
this Agreement with respect to the provision of Underwriting Services, for the issuance of
Utilities Revenue Bonds, for CITY's Finance Department for the remainder of the term of
this Agreement.
NOW, THEREFORE,
IN CONSIDERATION of the mutual terms, conditions, promises, covenants, and
payments hereinafter set forth, CITY, CONTRACTOR and ASSIGNEE agree as follows:
1. DEFINED TERMS; RATIFICATION; CONFLICTS
1.1 DEFINED TERMS. All defined terms in this Assignment Agreement shall
have the same meaning as in the Agreement except as otherwise noted.
1.2 RATIFICATION. Except as amended and modified by this Assignment
Agreement, all of the terms, covenants, conditions, and agreements of the
Agreement are hereby ratified and shall remain in full force and effect.
1.3 CONFLICTS. In the event of any conflict between the provisions of the
Agreement and the provisions of this Assignment Agreement, the provisions
of this Assignment Agreement shall control.
2. EFFECTIVENESS
The Effective Date of this Assignment Agreement shall be February 27, 2004. The
assignment is expressly subject to and contingent upon the approval and execution of this
Assignment Agreement.
3. ESTOPPEL
The Agreement is the sole agreement pertaining to the acquisition of assets of
William R. Hough & Co., a Florida Corporation, including the rights, duties and obligations
of CONTRACTOR. Neither CITY nor CONTRACTOR has given a notice of default under
the Agreement to the other party, neither CITY nor CONTRACTOR is in default of its
obligations under the Agreement. CITY and CONTRACTOR acknowledge and agree that
all obligations of the parties under the Agreement up to the Effective Date of this
Assignment Agreement have been fully performed and paid for by the respective parties.
4. ASSIGNMENT AND DELEGATION
4.1 CONTRACTOR does hereby assign and delegate to ASSIGNEE, all of its
right, title and interest in and to the Agreement including all right, title and
interest in all reports, documents, or other data prepared and/or provided by
CONTRACTOR thereunder in connection with or related to the Agreement.
2
Cit i +r>r(aicl
F Tq y
� F
Pi nchasing and C ;r;tr
4.2 ASSIGNEE hereby accepts the assignment and delegation of the Agreement
and releases CONTRACTOR from all its obligations under the Agreement
after the Effective Date of this Assignment Agreement. ASSIGNEE further
agrees to assume all of CONTRACTOR's obligations thereunder and agrees
to perform and keep all of the terms, conditions, covenants, agreements,
liabilities and obligations to be performed thereunder from and after the
Effective Date of this Assignment Agreement.
4.3 CITY hereby acknowledges and consents to the assignment and delegation
by CONTRACTOR to ASSIGNEE of the Agreement as set forth herein, and
ASSIGNEE agrees to perform its obligations hereunder and be bound to
CITY pursuant to the terms of the Agreement.
5. RELEASE
CITY and CONTRACTOR hereby release and forever discharge each other for all
agreements, promises and obligations which each party had, now has or may have,
against each other arising out of, related to, or in connection with the rights and obligations
granted and accruing under the Agreement.
6. AMENDMENT OF TERMS AND CONDITIONS OF ORIGINAL AGREEMENT
6.1 On the Effective Date of this Assignment Agreement, all references in the
Agreement to "CONTRACTOR" shall be deemed to refer to "ASSIGNEE" in
order to effectuate the intent of the parties under this Assignment
Agreement.
5.2 ARTICLE 20, NOTICE, of the Agreement is hereby amended by deleting the
address for the current CONTRACTOR and inserting the following for
ASSIGNEE deemed CONTRACTOR after the Effective Date of this
Assignment Agreement:
CONTRACTOR:
RBC Dain Rauscher, Inc.
John Orenstein, Managing Director
60 South Sixth Street, Suite 1500
Minneapolis, Minnesota 55402
7. APPLICABLE LAW AND VENUE
This Agreement shall be governed by the laws of the State of Florida as now and
hereafter in force. The venue for actions arising out of this agreement is fixed in Broward
County, Florida.
4 tt,; ;�f �r.l rrli it 3i: Poi chasing and
B. THIRD PARTY RIGHTS
Nothing in this Assignment Agreement shall be construed to give any rights or
benefits to anyone other than CITY, CONTRACTOR or ASSIGNEE.
9. SUCCESSORS AND ASSIGNS
This Assignment Agreement shall inure to and be binding upon the authorized
successors and assigns of the parties.
10. WHEREAS CLAUSES
The information contained in the Whereas Clauses set forth above is true and
correct, and is hereby incorporated into the body of this Assignment Agreement.
11. MULTIPLE ORIGINALS
Multiple copies of this Assignment Agreement may be executed by all parties, each
of which, bearing original signatures, shall have the force and effect of an original
document.
" -IN
F'u.. 1i75rrtCJ<;ind C f1[r ct° r
Rif P
f
IN WITNESS WHEREOF, the parties hereto have made and executed this
Assignment: CITY OF TAMARAC signing by and through its Mayor and City Manager, duly
authorized to execute same; CONTRACTOR, signing by and through its Senior Vice
President, duly authorized to execute same and ASSIGNEE, signing by and through its
Managing Director, duly authorized to executed same.
ATTEST:
Marion Swenson, CMC
City Clerk
CITY OF TAMARAC
Joe Schreiber, Mayor
Date
JeffreyL. Mi er, City Manager
Date:
Date x /L Approve as to form end legal sufficiency:
Mitchell S. Kr ft,..City Attorney
4
5
q
Crt, {Timr ,,.
ASSIGNMENT, DELEGATION AND RELEASE AGREEMENT AMONG CITY OF
TAMARAC AND WILLIAM R. HOUGH & CO., INC., A FLORIDA CORPORATION AND
RBC DAIN RAUSCHER, INC., A MINNESOTA CORPORATION, FOR UNDERWRITING
SERVICES FOR THE ISSUANCE OF UTILITIES REVENUE BONDS FOR THE CITY OF
TAMARAC.
ATTEST:
(Corporate S cr tary)
Type/Print Name of Corporate Secretary
(CORPORATE SEAL)
WITNESSES
Print/Name
Sig ature
CONTRACTOR
WILLIAM R. OUGH & CO
Signature of Senior Vice President
i
Kevin M. Conitz
Type Name of Senior Vice President
Date
-2m-WIP-e Cam✓ �- �'�
Pri ame
Signature
z 1-7- 04
Date Date
Fa
LIIC77 .j?;Inyiiw r iiJr'.'i: :i,.
STATE OF FLORIDA
COUNTY OF , , ,
ACKNOWLEDGEMENT
WILLIAM R. HOUGH & CO.
SS
I HEREBY CERTIFY that on this day, before me, an Officer duly authorized in the State
aforesaid and in the County aforesaid to take acknowledgments, personally appeared
Kevin M, Conitz, Senior Vice President of William R. Hough & Co., a Florida
Corporation, to me known to be the person(s) described herein and who executed the
foregoing instrument and acknowledged before me that he/she executed the same.
WITNESS my hand and official seal this
20 .
r�
HELEN M. ENN
MY COMMISSION # DO 049W2
1 (Z
EXPIRES: August 13. 2005
I140" NOTARY FL NuUtry Service & Bomfinp. Inc.
day of
NOTARY PUBLIC
State of Florida at Large
(Name of Notary Public: Print, Stamp, or
Type as Commissioned)
Personally known to me or
❑ Produced Identification
Type of I.D. Produced
❑ DID take an oath, or ❑-I D NOT take an oath.
J.... ... J
ASSIGNMENT, DELEGATION AND RELEASE AGREEMENT AMONG CITY OF
TAMARAC AND WILLIAM R. HOUGH & CO., INC., A FLORIDA CORPORATION AND
RBC DAIN RAUSCHER, INC., A MINNESOTA CORPORATION, FOR UNDERWRITING
SERVICES FOR THE ISSUANCE OF UTILITIES REVENUE BONDS FOR THE CITY OF
TAMARAC.
ATTEST:
ASSIGNEE
RBq D N I AUS ER INC.
Sig ature of Managing Director
John Orenstein
(Corporate Secretary) Type Name of Managing Director
Type/Print Name of Corporate Secretary Date /
(CORPORATE SEAL)
WITNESSES
Print Name
Signature
Date
8
Print Name
Signatui-O
Date
w
CJI v Gr iC' /fn iIaG
< r
1Uc;(1e 1l1CT i3/1 � t'h "' "
ACKNOWLEDGEMENT
RBC DAIN RAUSCHER, INC.
STATE OF
:SS
COUNTY OF
I HEREBY CERTIFY that on this day, before me, an Officer duly authorized in the State
aforesaid and in the County aforesaid to take acknowledgments, personally appeared
John Orenstein, Managing Director of RBC Dain Rauscher, Inc., a Minnesota
Corporation, to me known to be the person(s) described herein and who executed the
foregoing instrument and acknowledged before me that he/she executed the same.
WITNESS my hand and official seal this day of 6 '
20 '
�.M`k•h�:rlr•+veywr• �.,;,,,...nP.,uw�:..-,r,,,.,:..,�,,;'M�•a w
NOTARY PUBLIC
State of F4arida at Large
(Name of Notary Public: Print, Stamp, or
Type as Commissioned)
Personally known to me or
❑ Produced Identification
Type of I.D. Produced
❑ DID take an oath, or ❑ DID NOT take an oath.
9
AC CERTIFICATE OF LIABILITY INSURANCE CSR DATE (MMIDDI
DAINR-1 02/20/0 4
PRODUCER THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION
ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE
Hays Companies HOLDER. THIS CERTIFICATE DOES NOT AMEND, EXTEND OR
80 South Sth Street #700 ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW.
Minneapolis MN 55402
Phone:612-333-3323 Fax:612-373-7270
INSURED
RBC Dain Rauscher Corp.
Eric Emmette
510 Marquette Ave. S. M13
Minneapolis MN 55402-1106
COVERAGES
INSURERS AFFORDING COVERAGE NAIC #
INSURERA. St. Paul Mercury Ins. Co.
INSURER B Zurich American Insurance Co.
INSURER C.
NSIIREP D
INSURER E.
THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED AHOVF h()R THE POL.IC'.Y PERIOD INUIUAIEL) NUI WIIHSIANUING
ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR
MAY PEPIAIN. I HE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCII
POLICIES. AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
INS
LTR
NSR
TYPE OF INSURANCE
POLICY NUMBER
DATE (MMJDDJYY)
DATE (MMJDDJYY)
LIMITS
A
X
GENERAL LIABILITY
X COMMERCIAL GENERAL. LIABILITY
CLAIMS MADE X� OCC.LIR
FS06302542
06/01/03
06/01/04
EACH OCCURRENCE
$ 1,000,000
PREMI (E or4r., rence)
MED EX (Any one person)
$ 100,000
$ 5,000
$ 1,000,000
PERSONAL 3 ADV INJURY
GENL AGGREGAIE LIMIT APPLIES PER
IMPRp-
POLICY ,IFCI -Q�:
GFNFRAI AG(-,PGAIE
PRODUCTS COMPIOPAGG
s2,000,000
$2,OOD,000
A I
I
,
AUTOMOBILE
X
X
X
LIABILITY
,vaYAUIo
ALL OWNED AUTOS
SCIIEDIJLEDAUTOS
HIRFDnIITos
PJ17N-�.)WNCD AUTOS
FS06302542
'1
Vendor .
Date of Review'
AcceptableiL
06/01/03
citi.✓—u
06/01/04
.
�/.
COMBINED swGLELIMIT
(Eaaccldcrit)
$ 1,000,000
BODILY INJURY
(Per person)
$
BODILY INJURY
(Per accident)
$
-
�� --1 �'"
PROPERTY DAMACaE
(Per accident)
$
GARAGE LIABILITY
;NY AUTO
Not Acceptable
(Note Qeficiencie
/
Below)
ALITO ONLY- EA ACCIDENT
OTHER THAN EA ACC
ALTO ONLY AGG
$
A
EXCESS/UMBRELLA LIABILITY
X OCCUR CLAIMS MADE
X DEDUCTIBLE
RETENTION 110,000
v
RR
FS0630"29�SnBget SL
06/01/04
EACH O-CI IRRENCE
$ 9, 0 0 0, Q Q Q
n 701/03
AGGREGATE
$ 9,000,000
$
$
$
B
WORKERS COMPENSATION AND
EMPLOYERS' LIABILITY--
OFFICER/MEMBER EXCLUDED?
If yes, describe under
SPECIAL PROVISIONS below
WC 9374310 00
06/01/03
06/01/04
X TGRY LIMITS 'ER
—
FI FACHnCCIDFNT
$ 1,000,000
$ 1, 0 0 0, 0 0 0
E L DISEASE - EA EMPLOYEE
EL DISEASE -POLICY LIMIT
$ 1,000,000
OTHER
DESCRIPTION OF OPERATIONS I LOCATIONS / VEHICLES I EXCLUSIONS ADDED BY ENDORSEMENT I SPECIAL PROVISIONS
City of Tamarac is additional insured as their interests may appear.
CERTIFICATE HOLDER CANCELLATION
CITYTA1
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION
City of Tamarac
DATE THEREOF, THE ISSUING INSURER WILL ENDEAVOR TO MAIL 30 DAYS WRITTEN
Finance & Policy Officer
NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT, BUT FAILURE TO DO SO SHALL
Leanne William
7525 NW 88th Avenue
IMPOSE NO OBLIGATION OR LIABILITY OF ANY KIND UPON THE INSURER, ITS AGENTS OR
Tamarac FL 33321
REPRESENTATIVES.
AUTHCPIZED REPRESENTATIV
ACUKU L5 (1UU11UU) U ACUKU COKPUKA I TUN IU8U
CSR SW
ACORD CERTIFICATE CERTIFICATE OF LIABILITY INSURANCE DAINR-1
DATE (MMIDDIYYYY)
02/20/04
PRODUCER
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION
ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE
Hays Companies
80 South Sth Street #700
HOLDER. THIS CERTIFICATE DOES NOT AMEND, EXTEND OR
ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW.
Minneapolis MN 55402
Phone: 612-333-3323 Fax:612-373-7270
INSURERS AFFORDING COVERAGE
-Specia
NAIC9
INSURED
INSURER A. American Int l lty Lines
INSURER B
RBC Dain Rauscher Inc.
Eric Emmette
INSURER C.
............
INSURER D
510
Minneapolt
lsMN 55402-1106
INSIJRER E.
COVERAGES
1 HE POLI -IEB )F INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITI (STANDING
ANY RE CJIJ I P'EMENT, TERM OR CONDI IIQN OF ANY CONTRAC1 QR OTHER f)OCIJMl-NI WI I RESPECT 10 WHICH IHIS CF_RT IF ICATE MAY BE ISSUED OR
MAY PERTAIN, THE !INSURANCE AFFORDEP EY THE POLICIES DCSCRIBEL) HEREIN IS ','1JB 11-C:.1 IO ALL. IHE ItRMS, FXUI_LJS I ONS MJD CONDI I IONS (_)F SUCH
POLICIES AGGP�GAIE LIMI IS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
INSR 00'L . _. ....._._...�.
LTR NSR TYPE OF INSURANCE POLICY NUMBER DATE (MMIDD/YY) DATE (MMIDDIYY) LIMITS
GENERAL LIABILITY
EACH OCCURRENCE
$
IT
PREMI'SE5 (E;� accurence)
$
I COMMERCIAL GENFRAI, I IAFf11 ITY
CLAIMS MADE OCCUR
MED EXP (Any one person)
PERSONAL 5 ADV INJURY
$
GFNFRAI AGGREGATF
$
GEN'L AGGREGATE LIMIT APPLIES PER.
PRODUCTS - COMP/OP AGG
$
POLICY ry JECT I I LOC
AUTOMOBILE
LIABILITY
ANY AUTO
COMBINED SINGLE LIMIT
(Ea accident)
$
BODILY INJURY
(Per person)
ALL OWNED AUTOS
SCHEDULED AUTOS
HIRED ALI I0S
NOfJ-OWNED AUTOS
Vendor
Date of Review
/ `
..
�--
$
DODILY INJURY
(Per aCCident)
$
`
PROPERTY DAMAGE
IF'er accident)
GARAGE LIABILITY
AUTO ONLY- EA ACCIDENT
$
ANY AUTO
Not Acceptable
(Note Deficiencies
OTHER 7NAN EA ACC
AUTO ONLY AGG
$
$
EXCESSIUMBRELLA LIABILITYNMI
M1 ryr
EACH OCCURRENCE
OCCUR n CLAIMS MnJ:,H
isk Manager ig
aturo
AGGREGATE
$ �_„�__,_._.__..,............._.
$
DEDUCTIBLE
$
RETENTION $
WORKERS COMPENSATION AND
TORY IMITS IF
EMPLOYERS' LIABILITY
E I- EACH ACCIDENT
$
ANY PHCIPRIEIOH/PARTNER/EX.ECUIIVE
E.L. DISEASE - EA EMPLOYEE
$
OFFICER/MEMBER EXCLUDED?
If yes, descnbe under
F I. DISFASF - POLICY LIMIT
$
SPECIAL PROVISIONS below
OTHER
A
Securities Broker/
348-98-63
11/15/03
11/15/04
Limit $1,000,000
Dealers Prof
Retention $15,000
DESCRIPTION OF OPERATIONS I LOCATIONS I VEHICLES I EXCLUSIONS ADDED BY ENDORSEMENT I SPECIAL PROVISIONS
CERTIFICATE HOLDER CANCELLATION
CITYTAI
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION
City of Tamarac
DATE THEREOF, THE ISSUING INSURER WILL ENDEAVOR TO MAIL 30 DAYS WRITTEN
Finance & Policy officer
NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT, BUT FAILURE TO DO SO SHALL
Leanne William
7525 NW 88th Avenue
IMPOSE NO OBLIGATION OR LIABILITY OF ANY KIND UPON THE INSURER, ITS AGENTS OR
Tamarac FL 33321
REPRESENTATIVES.
AUTH (ZED REPRESENTATIV
ACORD 25 (2001108) 0 ACORD CORPORATION 1988