2022-077 Ordinance - Laserfiche WebLink

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relationship, that firm shall not exercise any administrative discretion on behalf of the Citv in the formulation of public policy, expenditure of public funds. enforcement of laws, rules and regulations of the State the City or any other political subdivision, or the execution of public trusts. that firm shall be paid just and reasonable compensation for those legal services and shall be reimbursed for the actual out-of-pocket expenses it incurs in rendering those legal services. The Director of finance is authorised and directed to make appropriate certification as to the availability of funds for those fees and any reimbursement and to issue an appropriate order for their limey payment as written statements are submitted by that firm. Section 13. Retention of Municipal Advisor. The Citv retains MAS Financial Advisory Services, I.LC to provide financial advisory services as the C'ity's'municipal advisor' as that Term is defined in section 975 of "Dille IX of the DoddA rank Wall Street Reform and Consumer Protection Act ('Dodd -Frank Act') relating to the authorization, structuring, sale, issuance and delivery by the City of the Notes. Those municipal advisory sesyiees shall be rendered to the City by MAS Financial Advisory Services. LLC in compliance with the Dodd -Prank Act, the rules and regulations promulgated thereunder and in accordance with the forst of agreement between the City and MAS Financial Advisory Services. LLC which form of agreement is currently on file with the Clerk of C'nuncil (the "Adviser% Agreement"). the Mayor, the Director of Finance and/or the Director of Law are each herchy authorized to execute and deliver the agreement between the City and MAS Financial Advisory Services. ITC. with such changes to the torm of agreement currently on file with the Clerk of Council that arc not materialh adverse to the City with the execution by such City officials being conclusive evidence that any such changes are not materially adverse to the City. MAS Financial Advisory Services, LLC shall provide those municipal advisory services as an independent contractor in accordance with the Dodd -Frank Act and the rules and regulations promulgated thereunder. the Director of Finance shall provide for the payment of the services rendered and for reimbursement of expenses incurred pursuant to the Advisory Agreement from the proceeds of the Notes to the extent available and then from other moneys lawfully available and appropriated or to be appropriated for that purpose. Section 13. Certification and Deliven of Ordinance and C ertificate of Award the Clerk of Council is directed to deliver to the County Fiscal Olricer (i) a certified copy of this Ordinance and (ii) a signed copy of the Certificate of Award, as soon as each is available. Section 14. Satisfaction of Conditions for Note Issuance. this Council determines that all acts and conditions necessary to be done or performed by the City or to have been stet precedent to and in the issuing of the Notes in order to make them legate valid and binding general obligations of the City of North Olmsted have been performed and have been mel, or will at the time of delivery of the Notes have been performed and have been mel. in regular and due form as required by law; that the full faith and credit and general property taxing power (as described in Section 9) of the Cm arc pledged for the timely payment of the debt charges on the Notes; and that no statutory or constitutional limitation of indebtedness or taxation will have been exceeded in the issuance of the Notes. Section 15. Compliance with Oen Meeting Requirements. This Council finds and determines that all formal actions of this Council and of any of its committees concerning and relating to the passage of this Ordinance were taken, and that all deliberations ofthis Council and of -6-