1980 068 Ordinance (2) - Laserfiche WebLink

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ORDINANCE NO. 80-68 INTRODUCED BY: Mayor & Council as Whole AN EMERGENCY ORDINANCE APPOINTING DELOITTE HASKINS & SELLS AS SPECIAL FINANCIAL COUNSEL TO MAYFIELD VILLAGE, OHIO, FOR THE PURPOSE OF ALLIGNING BIDS ON VILLAGE NOTES AND BONDS. BE IT ORDAINED BY THE COUNCIL OF MAYFIELD VILLAGE, OHIO, THAT: Section 1. DELOITTE HASKINS & SELLS is hereby appointed as Special Financial Counsel to Mayfield Village, Ohio, in accordance with the proposal received from said firm. Section 2. Council hereby authorizes and: directs that payment is to be made to DELOITTE HASKINS & SELLS at the average hourly rate of Fifty Five Dollars ($55.00) (based on an hourly range of Thirty Five Dollars [$35.00] to One Hundred Dollars [$100.00]) at a total estimated cost of Twenty Three Thousand One Hundred Eighty-Five Dollars ($23,185.00) for services to be rendered under the terms of the aforesaid proposal including, but not limited to, the following: 1. Preparation of a statement of assets and liabilities. 2. An audit of the statement of cash receipts and disbursements. 3. Statement of financial projections for a three (3) year period. 4. Assistance in the preparation of the 1981 appropriations and the 1982 budget. 5. Critique and suggestions as to municipal financial procedures. 6. Such other services as are necessary and requested to obtain favorable consideration of capital indebtedness financing by the municipal bond market. Section 3. It is agreed by and between Mayfield Village, Ohio and DELOITTE HASKINS & SELLS that all work performed by the latter shall be under the direction of James Delaney, Managing Partner. Section 4. This Ordinance is hereby declared to be an emergency measure immediately necessary for the preservation of the health, safety, and welfare of the residents of Mayfield Village in that it will help maintain stable financial procedures for the municipality.