HomeMy WebLinkAboutVII (D) Extension of Contract with First Union for Financial/Fiduciary Consultant and Yard Waste Services Agenda 9-19-2000
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Memorandum
To Mayor and City Commissioners
From : Wanda Horton, Finance Director - -_/�
Date : September 12, 2000
Re Contract for Financial Services Consultant
The attached is an amendment to the agreement for Financial Consulting Services between
the City of Ocoee and First Union. First Union, represented by Financial Advisor Mark
Galvin. First Union has played a vital role on the financing team performing financial
studies, analyses and advising City staff in the preparation, execution and marketing of
bonds, notes and other debt obligations to finance various capital needs of the City.
Staff is pleased with the relationship we've established not only with First Union through
Mr. Galvin but also with the mutual relationships established with the entire financing
team established two years ago. First Union has been responsive to the City's needs and
demonstrates their knowledge and understanding of the financial market and
governmental entities through creative and current financial strategies.
The attached amendment does not have a termination date but allows either party to
terminate by a sixty (60) day advance written notice. This document has been reviewed by
the City Attorney.
Action Requested
Staff recommends the Mayor and City Commissioners approve the attached amendment to
the contract between First Union National Bank and the City of Ocoee and authorize the
Mayor and City Clerk to execute all documents necessary.
POWt
Du-
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AMENDMENT TO
FINANCIAL SERVICES CONSULTANT AGREEMENT
THIS AMENDMENT TO FINANCIAL SERVICES CONSULTANT
AGREEMENT is made and entered into this day of October, 2000, by and between
the CITY OF OCOEE, a political subdivision of the State of Florida, whose address is
150 North Lakeshore Drive, Ocoee, Florida 34761 (the "City) and FIRST UNION
NATIONAL BANK (formerly FIRST UNION CAPITAL MARKETS CORP.) duly
authorized to conduct business in the State of Florida, whose address is 800 North Orange
Avenue , Orlando, Florida 32803 (the"Consultant").
WITNESSETH:
WHEREAS, The City and Consultant have heretofore entered into a certain
Financial Services Consulting Agreement dated July 18, 1995 (the "Agreement'): and
WHEREAS, the Agreement had an original term of one (1) year and a renewal
option held by the City to extend the Agreement for two (2) successive periods not to
exceed one (1) year each; and
WHEREAS, the City elected to extend the Agreement for the additional two (2)
periods after the expiration of the original term; and
WHEREAS, the parties desire to enter into this Amendment to extend the terms
of the Agreement:
NOW, THEREFORE, in consideration of the mutual understandings and
covenants set forth herein,the City and the Consultant agree as follows:
SECTION 1. RECITALS. City and Consultant hereby agree that the recitals
stated above are true and correct and are hereby incorporated into this Amendment by
this reference.
SECTION 2. TERMS. All terms used herein shall be defined in the Agreement
unless otherwise indicated.
SECTION 3. EXTENSION OF AGREEMENT. City and Consultant hereby
agree that the Agreement shall continue in effect until either party notifies the other of
their intent to terminate by a sixty (60) day advance written notice.
SECTION 4. CONFLICTS. In the event of any conflicts between the
Agreement and this Amendment, it is agreed that this Amendment shall control.
SECTION 5. FULL FORCE AND EFFECT. Except as expressly set forth
herein, the Agreement remains unchanged and in full force and effect.
ATTEST: FIRST UNION NATIONAL BANK
By:
Name:
Title:
Date:
ATTEST: APPROVED:
CITY OF OCOEE
Jean Grafton, City Clerk S. Scott Vandergrift, Mayor
(SEAL)
FOR USE AND RELIANCE ONLY APPROVED BY THE OCOEE CITY
BY THE CITY OF OCOEE, COMMISSION AT A MEETING
APPROVED AS TO FORM AND FIELD ON , 2000
LEGALITY,this day UNDER AGENDA ITEM NO.
of , 2000.
FOLEY & LARDNER
BY:
CITY ATTORNEY