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<br />RESOLUTION NO. 2002- L/ Lf 1- <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br />SUNNY ISLES BEACH, FLORIDA, AUTHORIZING THE CITY <br />MANAGER TO ENTER INTO AN AGREEMENT WITH FIRST <br />SOUTHWEST COMPANY FOR FINANCIAL ADVISORY SERVICES, <br />A TT ACHED HERETO AS EXHIBIT" A", ON AN HOURLY BASIS WITH <br />A CAP SET AT $9,500.00 FOR ASSISTANCE IN DEVELOPMENT OF A <br />COMPREHENSIVE FINANCING PLAN FOR THE CITY'S CAPITAL <br />IMPROVEMENT PROGRAM; AND ON AN HOURLY BASIS WITH A <br />CAP SET AT $5,000.00 FOR ASSISTANCE WITH PUTTING TOGETHER <br />A RATING AGENCY PRESENTATION FOR THE CITY AND <br />OBTAINING A CREDIT RATING FROM 'THE RATING AGENCIES; <br />AND TO ASSIST AS THE CITY'S FINANCIAL ADVISOR IN FUTURE <br />BOND ISSUES OR AS AUTHORIZED BY THE CITY MANAGER; <br />AUTHORIZING THE MAYOR TO EXECUTE SAID AGREEMENT ON <br />BEHALF OF THE CITY, PROVIDING THAT THE AGREEMENT IS <br />REVIEWED BY THE CITY ATTORNEY; AUTHORIZING THE CITY <br />MANAGER TO DO ALL OTHER THINGS NECESSARY TO <br />EFFECTUA TE THE TERMS OF THE AGREEMENT; PROVIDING FOR <br />AN EFFECTIVE DATE. <br /> <br />WHEREAS, the City of Sunny Isles Beach has projects coming up and needs financial <br />advisory services including development of a comprehensive financing plan for the City's Capital <br />Improvement Program, putting together a rating agency presentation for the City, obtaining a <br />credit rating from the rating agencies, and to assist as the City's Financial Advisor in future bond <br />issues or as authorized by the City Manager, and <br /> <br />WHEREAS, the City Manager has negotiated an agreement with First Southwest <br />Company and desires to enter into the agreement, attached hereto as Exhibit "A", for Financial <br />Advisory Services on an hourly basis, setting a cap at $9,500.00, for assistance in development of <br />a comprehensive financing plan for the City's Capital Improvement Program, and setting a cap of <br />$5,000.00 for putting together a rating agency presentation and obtaining a credit rating from the <br />rating agencies; and <br /> <br />WHEREAS, First Southwest Company will also assist as the City's Financial Advisor in <br />future Bond issues or as authorized by the City Manager. <br /> <br />NOW THERE};'ORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section 1. Approval of Agreement. The Agreement, attached hereto as Exhibit "A", between <br />the City of Sunny Isles Beach and First Southwest Company, for Financial Advisory Services, on <br />an hourly basis, setting a cap at $9,500.00, for assistance in development of a comprehensive <br />financing plan for the City's Capital Improvement Program, and setting a cap of $5,000.00 for <br /> <br />R2002- Agmt wlFirst Southwest Co. <br />for Financial Advisory Services <br /> <br />1 <br />