22-999ORDINANCENO. 22-999
AN ORDINANCE OF THE CITY OF DENTON, A TEXAS HOME-RULE MUNICIPALCORPORATION, AUTHORIZING THE CITY MANAGER TO EXECUTE A CONTRACT WITHHILLTOP SECURITIES, INC., FOR INVESTMENT ADVISORY SERVICES FOR THE
FINANCE DEPARTMENT; PROVIDING FOR THE EXPENDITURE OF FUNDS THEREFOR;
AND PROVIDING AN EFFECTIVE DATE (RFP 7953 – AWARDED TO HILLTOP
SECURITIES, INC., 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 $335,000.00).
WHEREAS, the City has solicited, received, and evaluated competitive proposals for
investment advisory services for 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, the City Council has provided in the City Budget for the appropriation of funds
to be used for the purchase of the materials, equipment, supplies, or services approved and acceptedherein; 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.
RFPNUMBER CONTRACTOR AMOUNT
7953 Hilltop Securities, Inc.$335,000.00
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.
SECTION 3. That should the City and person submitting approved and accepted items wish
to enter into a formal written agreement as a result of the acceptance, approval, and awarding of the
proposals, the City Manager, or their designated representative, is hereby authorized to execute the
written contract which shall be attached hereto; provided that the written contract is in accordance
with the terms, conditions, specifications, standards, quantities, and specified sums contained in the
Proposal and related documents herein approved and accepted.
SECTION 4. The City Council of the City of Denton, hereby 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 5. By the acceptance and approval of the above enumerated bids, the City
Council hereby authorizes the expenditure of funds therefor in the amount and in accordance with
the approved bids.
SECTION 6. This ordinance shall become effective immediately upon its passage and
approval.
The motion to approve this ordinance was made by AiSon %\Dire and
seconded by BrIM -Beck . This ordimmMGiacay thefollowing vote [I - b :
Aye
a
Z\/r
\/
/
b/
Nay Abstain Absent
Mayor Gerard Hudspeth:Vicki Byrd, District 1 :
Brian Beck, District 2:Jesse Davis, District 3 :
Alison Maguire, District 4:
Brandon Chase McGee, At Large Place 5 :
Chris Watts, At Large Place 6:
PASSED AND APPROVED this the ly day of
hIDE
ATTEST:
ROSA RIOS, CITY SECRETARY A\ttllllfllf
. 4%£/ .#r,*
APPROVED AS TO LEGAL FORM:MACK REINWAND, CITY ATTORNEY
Digitally signed by MaKella LunnDN: cn=Marcella Lunn, o, ou=Cityan.com, c=US
Date: 2022.05.05 13.06:33 05'00'
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