16-22RESOLUTION NO. 16 -22
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CLEARWATER, FLORIDA, APPROVING EXTENDING THE
TERM FOR A TEAM OF INVESTMENT BANKING FIRMS TO
PROVIDE BOND UNDERWRITER SERVICES; PROVIDING FOR
INCIDENTAL ACTION; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council of the City of Clearwater, Florida (the "City ") determined it
is in the best interest of the City to assemble a team of bond underwriters to serve the City; and
WHEREAS, the City issued a request for qualifications ( "RFQ ") to qualified investment
banking firms on September 8, 2011, and received responses thereto on October 6, 2011; and
WHEREAS, based on the responses received by the City and recommendations from
City staff, the City selected Wells Fargo Bank, National Association; Bank of America Merrill
Lynch; and RBC Capital Markets, LLC; as its team of bond underwriters (the "Underwriters ").
The selected Underwriters will serve the City for a period of three (3) years from the date hereof
with an option to renew for two (2) additional one (1) year periods; and
WHEREAS, the term approved by the Council pursuant to Resolution 11 -23 expires on
November 3, 2016; and
WHEREAS, the City has been working with the team on a refunding of the 2009A and
possibly all or a portion of the 2011 Water and Sewer bonds since early this year. There is a
possibility the City will not complete the refunding before the term expires; and
WHEREAS, the City would like to continue working with this team of underwriters to
complete these particular bond refundings;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CLEARWATER, FLORIDA:
SECTION 1. This Resolution is adopted pursuant to the provisions of Article VIII,
Section 2 of the Constitution of the State of Florida, Chapter 166, Florida Statutes, the Charter
of the City of Clearwater, Florida and other applicable provisions of law.
SECTION 2. The term of the agreement with Wells Fargo Bank, National Association;
Bank of America Merrill Lynch; and RBC Capital Markets, LLC is hereby extended until the
aforementioned bond refundings are completed
SECTION 3. If any section or part of a section of this Resolution be declared invalid or
unconstitutional, the validity, force and effect of any other section or part of a section of this
Resolution shall not thereby be affected or impaired unless it clearly appears that such other
section or part of a section of this Resolution is wholly or necessarily depended upon the section
or part of a section so held to be invalid or unconstitutional.
SECTION 4. All prior resolutions of the Issuer inconsistent with the provisions of this
resolution are hereby modified, supplemented and amended to conform with the provisions
Resolution No. 16 -22
herein contained and except as otherwise modified, supplemented and amended hereby shall
remain in full force and effect.
Passed and adopted by the City Council of the City of Clearwater, Florida, this 1st day of
September, 2016.
(SEAL)
r ved a� to form:
k--
amela K. Akin
City Attorney
By:
George N. Cretekos
Mayor
ATTEST:
mat � etit
Rosemarie Call
City Clerk
Resolution No. 16 -22