22-11RESOLUTION 22-11
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CLEARWATER, FLORIDA, DESIGNATING ATEAM OF INVESTMENT
BANKING FIRMS TO PROVIDE BOND UNDERWRITING 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 February 22, 2022, and received responses thereto on March 24, 2022; 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 BofA Securities, Inc.; J.P. Morgan Securities LLC;
Raymond James & Associates; RBC Capital Markets, LLC; and Wells Fargo Securities 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 financing 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 of part of a section of this Resolution can 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 by 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.
Passed and adopted by the City Council of the City of Clearwater, Florida, this 19'r' day
of May, 2022.
Approved as to form:
David Margolis
City Attorney
Frank V. Hibbard
Mayor
Attest:
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Rosemarie Call
City Clerk