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County Administrator's Report 12. 9.

BCC Regular Meeting

Technical/Public Service Consent

Meeting Date:	06/16/2016
Issue: Assignment of Agreement PD12-13.017 Financial Advisory Services
From:	Claudia Simmons
Department:	Asst County Administrator
CAO Approval:

RECOMMENDATION:

Recommendation Concerning the Assignment of Agreement for Financial Advisory Services - Claudia Simmons, Purchasing Manager, Office of Purchasing

That the Board approve and authorize the County Administrator to sign the Assignment of Agreement for Financial Advisor among Escambia County, First Southwest Company, LLC, and Hilltop Securities, Inc., providing for an administrative modification to PD 12-13.017, “Financial Advisor,” to assign all rights, duties, and obligations under the Agreement to Hilltop Securities, Inc., for the remainder of the term of the Agreement through March 20, 2017.

BACKGROUND:

The Request for Proposals for Financial Advisory Services, PD12-13.017, was advertised in the Pensacola News Journal on January 21, 2013. Two proposals were received on February 21, 2013. March 21, 2013, the County entered into an agreement for the services of a financial advisor with First Southwest Compnay LLC for a three year term with an option to renew for two successive one year periods. May 5, 2016, the County agreed to extend the term of the Agreement with Assignor for a period of twelve months commencing on March 21, 2016 and ending on March 20, 2017. Effective January 22, 2016, First Southwest Company LLC merged with and into Hilltop Securities Inc. the surviving entity. County Administration desires to continue to work with Hilltop Securities Inc. under the terms and conditions of PD12-13.017.

BUDGETARY IMPACT:

N/A

LEGAL CONSIDERATIONS/SIGN-OFF:

The Assignment was prepared by Assistant County Attorney Kristin Hual.

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

This recommendation is in compliance with Escambia County.

IMPLEMENTATION/COORDINATION:

The agreement will be administered by County Administration.

Attachments
Assignment