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CITY OF NORTH OLMSTED <br />ORDINANCE NO. 2018 — 60 <br />BY: Mayor Kennedy <br />A RESOLUTION DISPENSING WITH THE REQUEST FOR <br />QUALIFICATIONS (R.F.Q.) PROCESS REQUIRED TO OBTAIN <br />THE SERVICES OF A MUNICIPAL FINANCIAL ADVISOR AND <br />AUTHORIZING THE MAYOR TO ENTER INTO A CONTRACT <br />WITH MAS FINANCIAL ADVISORY SERVICES, LLC TO PROVIDE <br />MUNICIPAL ADVISORY SERVICES FOR THE CITY OF NORTH <br />OLMSTED, AND DECLARING AN EMERGENCY. <br />WHEREAS, the City is in need of municipal advisory services to develop and <br />implement a debt financing strategy for the recreation levy of the City of North Olmsted <br />in conjunction with the city's entire debt structure; <br />WHEREAS, it is the recommendation of Carrie B Copfer, Director of Finance, <br />that it is necessary to obtain the additional expertise of MAS Financial Advisory Services, <br />LLC to provide such services to the City of North Olmsted; and <br />WHEREAS, this Council, acting upon the recommendation of the Director of <br />Finance, desires the Mayor to enter into a new contract with MAS Financial Advisory <br />Services, LLC. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY <br />OF NORTH OLMSTED, COUNTY OF CUYAHOGA, AND STATE OF OHIO: <br />SECTION 1: That the Mayor be and he hereby is authorized to enter into a <br />contract with MAS Financial Advisory Services, LLC. to provide municipal advisory <br />services to the City, as an exception under North Olmsted Codified Ordinance <br />§ 112.10(b). Said contract, attached as Exhibit A, shall be approved by the Director of <br />Law, who is authorized to negotiate any such changes as not being substantially adverse <br />to the City, as shall be evidenced conclusively by the execution of the agreement by the <br />Mayor and the approval of the agreement by the Director of Law. <br />SECTION 2: That this Resolution is hereby declared to be an emergency measure <br />immediately necessary for the preservation of the public health, safety and welfare and for <br />the further reason that finance options must immediately be analyzed due to market risks <br />and market fluctuations; and further provided it receives the affirmative vote of two- <br />