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HomeMy WebLinkAbout2008 11 10 Consent 201 Resolution 2008-52 Financial AdvisorCOMMISSION AGENDA ITEM 201 November 10.2008 Meeting Consent x Informational Public Hearing Regular I yr? Mgr. / Att. / Dept. REQUEST: The City Manager and City Attorney request the City Commission consider Resolution 2008-52 memorializing the direction given by the City Commission on October 30, 2008 regarding the pending request for proposal for a new financial adviser. PURPOSE: This Agenda Item is being presented to memorialize the direction given by the City Commission at the City Commission meeting on October 30, 2008 related to the pending request for proposal for a new financial adviser.. APPLICABLE LAW AND PUBLIC POLICY: Section 218.415, Florida Statutes. CONSIDERATIONS: 1. In accordance with Resolution 2008-52, the City Manager is in the process of preparing a request for proposal for a new financial adviser. 2. On October 30, 2008, the City Commission provided additional direction regarding the request for proposal and directed that the new financial adviser be "independent of sales and brokerage of investment products." The wording reflected in the minutes was simplified to "independent of any investment offerings to the City of Winter Springs." 3. This Resolution clarifies Resolution 2008-52 regarding the request for proposal. Page 1 of 2 STAFF RECOMMENDATION: The City Manager and City Attorney recommends the City Commission consider the Resolution and approve or modify the Resolution as the City Commission deems appropriate. ATTACHMENT: Resolution 2008-52. COMMISSION ACTION: On October 30, 2008, the City Commission provided additional direction regarding the pending request for proposal. Page 2 of 2 RESOLUTION N0.2008-52 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, SEMINOLE COUNTY, FLORIDA, AMENDING RESOLUTION 2008-51 TO CLARIFY THAT THE PENDING REQUEST FOR PROPOSAL FOR AN FINANCIAL ADVISOR SHALL BE FOR AN FINANCIAL ADVISOR THAT IS INDEPENDENT OF ANY INVESTMENT OFFERINGS TO THE CITY OF WINTER SPRINGS; PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Commission desires to clarify Resolution 2008-51 related to the upcoming request for proposal for an financial advisor; and WHEREAS, the City Commission finds that this Resolution is in the best interests of the public health, safety, and welfare of the citizens of Winter Springs. NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, SEMINOLE COUNTY, FLORIDA, THAT: Section 1. Incorporation of Recitals The foregoing recitals are deemed true and correct and are hereby fully incorporated herein by reference. Section 2. Clarification of Resolution 2008-51. Section 3 of Resolution 2008-51 is hereby amended to include the following sentence: Eligible financial adviser candidates responding to the request for proposal shall be independent of any investment offerings to the City of Winter Springs. Section 3. Severability. If any section, subsection, sentence, clause, phrase, word, or portion of this Resolution is for any reason held invalid or unconstitutional by a court of competent jurisdiction, whether for substantive or procedural reasons, such portion shall be deemed a separate, distinct, and independent provision, and such holding shall not affect the validity of the remaining portions of this Resolution. Section 4. Reveal of Prior Inconsistent Resolutions. All prior resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of the conflict. Section 5. Effective Date. This Resolution shall become effective immediately upon its adoption by the City Commission of the City of Winter Springs, Florida. City of Winter Springs Resolution No. 2008-52 Page 1 of 2 ADOPTED by the City Commission of the City of Winter Springs, Florida, in a regular meeting assembled on this day of November, 2008. ATTEST: JOHN F. BUSH, Mayor ANDREA LORENZO-LUACES, City Clerk Approved as to legal form and sufficiency for the City of Winter Springs only: ANTHONY A. GARGANESE, City Attorney City of Winter Springs Resolution No. 2008-52 Page 2 of 2 RESOLUTION NO. 2008-52 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, SEMINOLE COUNTY, FLORIDA, AMENDING RESOLUTION 2008-51 TO CLARIFY THAT THE PENDING REQUEST FOR PROPOSAL FOR AN FINANCIAL ADVISOR SHALL BE FOR AN FINANCIAL ADVISOR THAT IS INDEPENDENT OF ANY INVESTMENT OFFERINGS TO THE CITY OF WINTER SPRINGS; PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Commission desires to clarify Resolution 2008-51 related to the upcoming request for proposal for an financial advisor; and WHEREAS, the City Commission finds that this Resolution is in the best interests of the public health, safety, and welfare of the citizens of Winter Springs. NOW, THEREFORE, BE IT DULY RESOLVED BY THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, SEMINOLE COUNTY, FLORIDA, THAT: Section 1. Incorporation of Recitals. The foregoing recitals are deemed true and correct and are hereby fully incorporated herein by reference. Section 2. Clarification of Resolution 2008-51. Section 3 of Resolution 2008-51 is hereby amended to include the following sentence: Eligible financial adviser candidates responding to the request for proposal shall be independent of any investment offerings to the City of Winter Springs. Section 3. Severability. If any section, subsection, sentence, clause, phrase, word, or portion of this Resolution is for any reason held invalid or unconstitutional by a court of competent jurisdiction, whether for substantive or procedural reasons, such portion shall be deemed a separate, distinct, and independent provision, and such holding shall not affect the validity of the remaining portions of this Resolution. Section 4. Repeal of Prior Inconsistent Resolutions. All prior resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of the conflict. Section 5. Effective Date. This Resolution shall become effective immediately upon its adoption by the City Commission of the City of Winter Springs, Florida. City of Winter Springs Resolution No. 2008-52 Page 1 of 2 ADOPTED by the City Commission of the City of Winter Springs, Florida, in a regular meeting assembled on this 10`'' day of November, 2008. - ATT T: A A LORENZO-LUACES, City Clerk Approved as to legal form and sufficiency for the City of Winter Springs only: ANTHO A. GARGANESE, City Attorney ~=%`L1 JOHN F. BLSH,1VIayor City of Winter Springs Resolution No. 2008-52 Page 2 of 2