HomeMy WebLinkAboutPierce, Wulbern, Murphey, Inc. Agreement -1971 11 22s •
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AGREEr1I,NT BY AND DET4JEEN THE
VILIAGE OF NORTH ORLAT,IDO, FLORIDA
(hereinafter called the "CITY")
AIu~ PIL~.CE, WiJLF}ERP1, MURPHEY, IP1C.
(hereinafter called the "FINANCIAL
ADVISOR")
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WHEREAS, the City has need for capital to prov3.de for the proper
development of its facilities for providing adequate services to its citizens;
and
WHEREAS, the City has need for proper planning and programming to
facilitate its receiving such capital from Federal, State and local sources;
and
WHER.FAS, such planning and programming is needed to determine the
feasibility of bond financing by the City; and
WHEREAS, the City represents that it is empowered by law to contract
with an experienced Financial Advisor for the purpose of providing such planning
and programming; and
titi'HEREAS, the Financial Advisor is recognized as qualified and experienced
in the field of municipal finance.
NOUJ, TI~.EFORE, the Financial Advisor will:
A. Study the existing financial status of the City;
B. Investigate Federal and State grants available to the City, including
the feasibility of the City to meet the requirements therefor;
C. Consult with the City on a continuing basis and advise the City on
financial matters;
D. Prepare a detailed and comprehensive financial plan for approval by
the City, ~ihich when impl.eme:nted will enable the City to obtain capital through, tine
various aforementioned sources.
Tn consideration f. or the above-named services, the Financial Advisor shall
be paid $100. per month to cover a portion of their out-of-pocket expenses.
Provided the City determines to fulfill any portion of its need for
capital through the iss~.~3nce of ad valorem tax bonds, special revenue bonds or
industrial revenue bonds, a supplemental contract shall be drawn bet*~~een the
City and the Financial Advisor in a form similar to the attacYied Exhibit A or
Exhibit B, deperdir~g upon the needs and cir.c•~.ur:~-tances at that time.
Provided the City determines to fulfill any portion of its need for
capital through Federal or State grants or loans, a supplemental contract shall
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be drawn between the City and the Financial Advisor in accordance with the appli-
cable guidelines prescribed by the agency providing such grant or loan.
Upon the signing of this agreement by the duly authorized representative
of the VILLAGE OF NORTH CRLAND O, FLORIDA and of PIERCE, WULBERN, MURPHEY, INC.
this agreement will become effective and continue until such time as either party
shall determine by thirty days written notification to the other of the intent
to cancel the agreement.
VILLAGE OF RTH ORLANDO, FLCR A
(SEAL)
. By
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PIFIRCE~ ERN, Y, INC.
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