17-20RESOLUTION 17 -20
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CLEARWATER, FLORIDA, DESIGNATING 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 March 9, 2017, and received responses thereto on April 5, 2017; and
WHEREAS, based on the responses received by the City and recommendations from
City staff, the City now desires to select a team of investment banking firms to serve as bond
underwriters to the City;
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 City hereby selects Bank of America Merrill Lynch, J.P. Morgan
Securities LLC, Raymond James & Associates, Inc, and Citigroup Global Markets Inc., as its
team of bond underwriters (the "Underwriters "). The selected Underwriters will serve the City
for a period of five (5) years from the date hereof.
SECTION 3. The City will, in its sole discretion, determine in connection with each
negotiated financing during the term specified in Section :2 above, the number of Underwriters to
use on each future negotiated financings in accordance with the authorization of the issuance of
each such financing, and in each such case, designate which firm, if any, will serve as senior
manager or co- manager for each transaction.
SECTION 4. If any section or part of a section cif 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 5. All prior resolutions of the Issuer inconsistent with the provisions of this
resolution are hereby modified, supplemented and amended to conform with the provisions
herein contained and except as otherwise modified, supplemented and amended hereby shall
remain in full force and effect.
SECTION 6. This resolution shall become effective immediately upon its adoption.
Resolution No. 17 -20
Passed and adopted by the City Council of the Ci of Clearwater, Florida, this 1st day of
June, 2017.
Approved as to form:
Pamela K. Akin
City Attorney
Geo
May
Atte - t:
Ros:.marie CaII
City 'lerk
Resolution No. 17 -20