2022-078 Ordinance - Laserfiche WebLink

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the Notes. In rendering those legal services. as an independent contractor and in an attomey-client relationship, that firm shall not exercise any administrative discretion on behalf of the C it% in the formulation of public policy, expenditure of public funds. enforcement of laws. Hiles and regulations of the Stale, 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 authori/ed and directed to make appropriate certification us to the availability of funds for those Ices and any reimbursement and to issue an appropriate order for their lintel. payment as written statements are submitted by that firm. Section 8. Retention of Municipal Advisor. "I'he City retains MAS Financial Advisory Services. LLC to provide financial advisory services as the City's "municipal advisor' as that term is defined in Section 975 of "Dille IX of the Dodd -Prank Wall Street Reform and Consumer ['refection Act (Dodd -Prank Act) relating to the authorization. structuring, sale, issuance and delivery by the City of the Notes. those municipal advisory services shall he 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 form of agreement between the City and MAS Financial Advisory Services, I.I.0 which form of agreement is currently on file with the Clerk of Council (the Advisogr Agreement). Mlle Mayor. the Director of Finance and/or the Director of Law are each hereby authorized to execute and deliver the agreement between the City and MAS Financial Advisory Services, LLC, with such changes to the form of agreement currently on file with the Clerk of Council that are not mnterially adverse to the City with the execution by such City officials being conclusive evidence that mry such changes are not materially adverse to the C'ily. 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 e.xlenl available and then from other moneys lawfully available and appropriated or to be appropriated for that purpose. Section 9. Nontax Revenues; Debt Retirement Fund. "Ilie Notes and the Bonds shall be special obligations of the City_ and the debt charges on the Notes, and the debt charges on any Bonds issued to retire the Notes, shall be payable solely from the Nonlax RCNCuUCS, and such payment is secured by a pledge of the Fledged Nontax Revenues pursuant to this Ordinance. the Notes and any Bonds issued to retire the Notes are not and shall riot be secured by an obligation or pledge of any money raised by taxation. The Notes and any Bonds issued to retire the Notes do not and shall not represent or constitute a debt or pledge of the faith and credit or taxing power of the Cin, and the owners thereof have and shall have no right to have lazes levied by the City for the payment of debt charges on the Notes. 'Ilie Notes shall contain a statement to that effect and to the effect that they are payable solely from the Nontax Revenues and are not secured by an obligation or pledge of any money raised by taxation. The City kill. solely from the proceeds of the Notes, the Bonds issued to retire the Notes. or Irom Nontax Rcvcnucs. pay or cause to be paid the debt charges on the Notes on the dales, at the places and in the manner prrvided herein and in the Notes. For that purpose, this City Council, after