HomeMy WebLinkAbout26-0871 INCOMPLETEORDINANCE NO. 26-0871
AN ORDINANCE OF THE CITY OF DENTON, A TEXAS HOME-RULE MUNICIPAL CORPORATION, AUTHORIZING THE CITY MANAGER TO EXECUTE A CONTRACT WITH HILLTOP SECURITIES ASSET MANAGEMENT, LLC, FOR INVESTMENT ADVISORY SERVICES FOR THE CITY THROUGH THE FINANCE DEPARTMENT; PROVIDING FOR THE EXPENDITURE OF FUNDS THEREFOR; AND PROVIDING AN EFFECTIVE DATE (RFP 9020-A WARDED TO HILL TOP SECURITIES ASSET MANAGEMENT, LLC, FOR TWO (2) YEARS, WITH THE OPTION FOR ONE (1) ADDITIONAL TWO (2) YEAR EXTENSION, IN THE TOTAL FOUR (4) YEAR NOT-TO-EXCEED AMOUNT OF $300,000.00).
WHEREAS, the City has solicited, received, and evaluated competitive proposals for
investment advisory services for the City through the Finance Department; and
WHEREAS, the City Manager, or a designated employee, has received, reviewed, and recommended that the herein described proposals are the most advantageous to the City considering the relative importance of price and the other evaluation factors included in the request for proposals; and
WHEREAS, this procurement was undertaken as part of the City's governmental function; and
WHEREAS, the City Council has provided in the City Budget for the appropriation offunds to be used for the purchase of the materials, equipment, supplies, or services approved and accepted
herein; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The items in the following numbered request for proposal for materials, equipment, supplies, or services shown in the ''Request Proposals" on file in the office of the
Purchasing Agent, are hereby accepted and approved as being the most advantageous to the City considering the relative importance of price and the other evaluation factors included in the request for proposals.
RFP NUMBER
9020
CONTRACTOR
Hilltop Securities Asset Management, LLC
AMOUNT
$300,000.00
SECTION 2. That by the acceptance and approval of the above numbered items of the submitted proposals, the City accepts the offer of the persons submitting the proposals for such items and agrees to purchase the materials, equipment, supplies, or services in accordance with the terms, specifications, standards, quantities, and for the specified sums contained in the Proposal Invitations, Proposals, and related documents.