HomeMy Public PortalAbout1998_11_10_R253The Town of
Leesburg,
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RESOLUTION NO.
A RESOLUTION:
PRESENTED November 10, 1998
98-253 ADOPTED November 10, 1998
AUTHORIZING A CONTRACT WITH DAVENPORT & CO.,
LLC TO SERVE THE TOWN AS FINANCIAL ADVISOR
WHEREAS, on September 28, 1998, proposals were received from firms in
response to the town's Request for Proposals for Financial Advisory Services (RFP); and
WHEREAS, the proposals were evaluated and interviews were conducted with
the firms responding to the RFP; and
WHEREAS, based upon these evaluations and interviews it is recommended that
the firm Davenport & Co., LLC is the firm most qualified to provide the services outlined
in the RFP.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia
as follows:
SECTION I. The manager is authorized to enter into a contract on behalf of the
town with Davenport & Co., LLC for the purpose of serving the town as its financial
advisor in relation to those services outlined in the RFP.
SECTION II. The contract shall be for a period of five years with option of
renewing for a period of two additional years beyond the initial five-year period.
SECTION III. The fee for providing these services to the town shall be a
maximum not to exceed amount of $20,000 for each bond issue and a rate of $150 per
hour for other services requested by the town.
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RESOLUTION - CONTRACT WITH DAVENPORT & CO., LLC
PASSED this 104 day of November, 1998.
J3m/es E. Clem, Mayor
Town of Leesburg
ATTEST:
Clerk of Council
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