22-656 - 7887 - Ordinance Executed22-656ORDINANCE NO.
AN ORDINANCE OF THE CITY OF DENTON, A TEXAS HOME-RULE MUNICIPALCORPORATION, AUTHORIZING THE CITY MANAGER TO EXECUTE A PROFESSIONALSERVICES AGREEMENT WITH HILLTOP SECURITES, INC., FOR ARBITRAGE,coNTiNunqG DISCLOSURE, AND DEBT FINANCLAL ADVISORY SERVICES FOR THEFINANCE DEPARTMENT AS SET FORTH IN THE CONTRACT; PROVDnqG FOR THE
EXPENDITURE OF FUNDS THEREFOR; AND PROVIDNG AN EFFECTIVE DATE (RFQ7887 – PROFESSIONAL SERVICES AGREEMENT FOR ARBITRAGE, CONTINUDqGDISCLOSURE, AND DEBT FINANCIAL ADVISORY SERVICES AWARDED TO HILLTOP
SECURITIES, INC., FOR ONE (1) YEAR, WITH THE OPTION FOR FOUR (4) ADDITIONALONE (1) YEAR EXTENSIONS, IN THE TOTAL FIVE (5) YEAR NOT-TO-EXCEED AMOUNT
OF $2,500,000.00).
WHEREAS, Hilltop Securities, Inc., the professional services provider (the “Provider”) set
forth in this ordinance, is being selected as the most highly qualified on the basis of its demonstrated
competence and qualifications to perform the proposed professional services; and
WHEREAS, the fees under the proposed contract are fair and reasonable and are consistent
with, and not higher than, the recommended practices and fees published by the professional
associations applicable to the Provider’s profession, and such fees do not exceed the maximum
provided by law; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The City Manager, or their designee, is authorized to enter into the professional
service contract attached hereto with Hilltop Securities, Inc., for arbitrage, continuing disclosure, and
debt financial advisory services for the Finance Department.
SECTION 2. The City Manager, or their designee, is authorized to expend funds as required
by the attached contract.
SECTION 3. The City Council of the City of Denton, Texas expressly delegates the
authority to take any actions that may be required or permitted to be performed by the City of Denton
under this ordinance to the City Manager of the City of Denton, or their designee.
SECTION 4. The findings in the preamble of this ordinance are incorporated herein byreference.
SECTION 5. This ordinance shall become effective immediately upon its passage and
approval.
The motion to approve this ordinance was made
seconded by Aliso'ThisRap ife by Alew%Ci_ and
ordinance was passed and approved by thefollowing vote LZ - a :
Aye
,/IZ1//
b/
Nay Abstain Absent
Mayor Gerard Hudspeth:Vicki Byrd, District 1 :
Brian Beck, District 2:
Jesse Davis, District 3 :
Alison Maguire, District 4:
Deb Armintor, At Large Place 5 :
Paul Meltzer, At Large Place 6:
PASSED AND APPROVED this the IM day of 2022
MAYOR
ATTEST:
ROSA RIOS, CITY SECRETARY
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APPROVED AS TO LEGAL FORM:
MACK REINWAND, CITY ATTORNEY
Digitally signed by MarcellaLunn
DN: cn=Marcella Lunn, o,Q
ity of Denton,EMi Lail=marcel:a.lunn@cityofa13.18 16:03:05Date: