HomeMy Public PortalAbout2019.043 (05-07-19) RESOLUTION NO. 2019.043
"A RESOLUTION OF THE CITY COUNCIL FOR THE CITY OF LYNWOOD
APPROVING THE RENEWAL OF THE INVESTMENT ADVISORY AGREEMENT
BETWEEN THE CITY OF LYNWOOD AND FTN FINANCIAL MAIN STREET
ADVISORS, LLC FOR ADDITIONAL THREE YEARS WITH AN OPTION TO EXTEND
THE AGREEMENT FOR AN ADDITONAL ONE YEAR".
This Investment Advisory Agreement between the City of Lynwood and FTN
Financial Main Street Capital Advisors, LLC is entered into with reference to the
following:
WHEREAS, on April 1, 2016, the City entered into an Agreement (hereinafter
"Agreement"), for investment advisory services, with FTN Financial Main Street Advisors
LLC; and
WHEREAS, the Agreement allowed the option to extend the term of the
agreement for up to one year if both parties agree to the extension; and
WHEREAS, the term of the extension Agreement expired April 1, 2019; and
WHEREAS, the parties hereto desire to renew the term of the Agreement by three
years with an option to extend on additional year, if both parties agree.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES
HEREBY FIND, DETERMINE, ORDER AND RESOLVE THE FOLLOWING:
Section 1. That the attached Investment Advisory Agreement is hereby approved,
with revision in a form subject to the approval of the City Attorney.
Section 2. This Resolution shall go into effect immediately upon its adoption.
PASSED, APPROVED and ADOPTED this 4TH day of June 2019.
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Jo - Luis Solache, Mayor
ATTEST:
/ / `, ./
Maria Quinonez, City Clerk0
APPROVE AS TO FORM APPROVED AS TO CONTENT
Noel Tapia, City Attor ey Jose meteotl, City Manager
STATE OF CALIFORNIA )
) SS.
COUNTY OF LOS ANGELES )
I, Maria Quinonez, the undersigned, City Clerk of the City of Lynwood, do hereby
certify that the foregoing Resolution was passed and adopted by the City Council of the
City of Lynwood at a regular meeting held on the 4111 day of June, 2019
AYES: MAYOR PRO TEM CASTRO, COUNCIL MEMBER CASANOVA,
ALATORRE, SANTANA, AND MAYOR SOLACHE
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
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/ f,
Maria Quinonez, ity Clerk
STATE OF CALIFORNIA
) SS.
COUNTY OF LOS ANGELES )
I, Maria Quinonez, the undersigned, City Clerk of the City of Lynwood, and the Clerk of
the City Council of said City, do hereby certify that the above foregoing is a full, true and
correct copy of Resolution No. 2019.043 on file in my office and that said Resolution
was adopted on the date and by the vote therein stated. Dated this 4th day of June,
2019.
Maria Quinonez, City—Clerk