HomeMy WebLinkAboutCity of Tamarac Resolution R-96-140Temp. Reso. #7429
(Revised 05/15/96)
(Revised 05/17/96)
May 9, 1996
CITY OF TAMARAC
RESOLUTION NO. R-96- I ID
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF TAMARAC, FLORIDA AUTHORIZING THE
APPROPRIATE CITY OFFICIALS TO NEGOTIATE AND
EXECUTE AN AGREEMENT BETWEEN THE CITY OF
TAMARAC AND A FINANCIAL ADVISOR FOR FINANCIAL
AND DEBT ISSUANCE ADVISORY SERVICES; PROVIDING
FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City Commission has determined that financial advisor is
necessary and appropriate for the structure and issuance of bonded debt; and
WHEREAS, the Finance Department solicited informal proposals from qualified
firms through an Expression of Interest instrument publicly advertised on April 8 and 15,
1996; and
WHEREAS, seven financial advisory firms, Public Financial Management, Inc.,
Rauscher Pierce Refsnes, Inc., William R. Hough & Co., Fidelity Financial Services, Inc.,
Evensen Dodge, Inc., Florida Municipal Advisors, Inc., and Stifel, Nicolaus & Company,
Inc., responded to the City's Expression of Interest request for Financial Advisory
Services; and
WHEREAS, the Financing and Selection Committee reviewed and evaluated the
proposals; and
WHEREAS, the committee considered the scope of services, experience,
technical resources, and other intangibles in the proposals; and
WHEREAS, the Financing and Selection Committee, after due consideration,
recommends Public Financial Management, Inc., to be the City's Financial Advisor for
providing a full range of financial, debt and investment advisory services that may vary
over time and may change depending on the unique circumstances associated with each
transaction and/or project; and
WHEREAS, the City Manager and the Director of Finance recommend approval of
the selection of Public Financial Management, Inc.; 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 the firm of
Public Financial Management, Inc. as the Financial Advisor to the City.
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Temp. Reso. #7429
(Revised 05/15/96)
(Revised 05/17/96)
May 9, 1996
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 : The selection of the firm of Public Financial Management, Inc. as the Financial
Advisor to the City of Tamarac, Florida is hereby authorized.
Section 3: The appropriate City Officials are hereby authorized to negotiate and enter into
an agreement between the City of Tamarac, Florida and the firm of Public Financial
Management, Inc. as the City's Financial Advisor.
Section 4: All resolutions or parts of resolutions in conflict herewith are hereby repealed
to the extent of such conflict.
Section 5: 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 in application, it
shall not affect the validity of the remaining portion or applications of this Resolution.
Section : This Resolution shall become effective immediately upon its adoption.
PASSED, ADOPTED AND APPROVED this � day of lone--. 11996.
ATTEST:
C4�L
CAROL A. EVANS, CMC
CITY CLERK
I HEREBY CERTIFY that I have
approved this Resolution as
to form. MAYOR
DIST. 1:
DIST. 2:
MITCHELL S. KRAFT DIST. 3:DIST. 4:
CITY ATTORNEY
RECORD OF COMMISSION VOTE
Finance/IP