HomeMy WebLinkAboutNorth Orlando, Village of -1971 11 22
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AGREENE.'NT BY AND BETVJEEN THE
VILlAGE OF NORTH ORIANDO, FLORIDA
(hereinafter called the "CITY")
AND PIERCE, 1.-JULHERN, :W.ffi.PHEY, INC.
(hereinafter called the "FINl\NCIAL
ADVISOR" )
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WHEREAS, the City has need for capital to provide for the proper
development of its facilities for providing adequate services to its citizens;
and
~IEREAS, the City has need for proper planning and programming to
facilitate its receiving such capital from Federal, State and local sources;
and
WHEREAS, 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
'~RNtEAS, the Financial Advisor is recognized as qualified and experienced
in the field of municipal finance.
NOW, THEREFOOE, 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 deGailed and comprehensive financial plan for approval by
the City, 1-Thich when implemented will enable the City to obtain capital through, the
various aforementioned sources.
In consideration foI' 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 determllles to fulfill any portion of its need for
capital through the issua.nce of ad valorem tax bonds, special revenue bonds or
industrial revenue bonds, a supplemental contract shall be drawn between the
City and the Financial Advisor in a form similar to the attached Exhibit A or
Exhibit B, depending upon the needs and circum::;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 VILIAGE OF NORTH CRIANDO, 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.
(SEAL)
VI~TH CIlIAND~ F~
BY_~~1_~~~
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