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Sponsored by: City Manager
RESOLUTION NO. 10-8085
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF OPA-LOCKA, FLORIDA TO AUTHORIZE THE
CITY MANAGER TO PROVIDE PAYMENT TO FIDELITY
FINANCIAL SERVICES, L.C. IN AN AMOUNT NOT TO
EXCEED TEN THOUSAND, NINE HUNDRED FIFTEEN
DOLLARS ($10,915.00) FOR CONSULTING SERVICES;
PROVIDING FOR RECITALS; PROVIDING FOR AN
EFFECTIVE DATE
WHEREAS, the City's Resolution 03-6453, as amended by Resolution 06-6855,
approved the hiring of Fidelity Financial Services, L.C., for certain consulting services; and
WHEREAS, Fidelity Financial Services, L.C. provided, pursuant to the Agreement
between Fidelity Financial Services, L.C. and the City of Opa-locka, general consulting
services through April 2010:
NOW, THEREFORE, THE CITY COMMISSION OF THE CITY OF OPA-
LOCKA, FLORIDA:
Section 1. The recitals to the preamble herein are incorporated by reference.
Section 2. The City Commission of the City of Opa-locka hereby directs and
authorizes the City Manager to provide payment to Fidelity Financial Services, L.C., in an
amount not to exceed Ten Thousand, Nine Hundred Fifteen Dollars ($10,915.00) for consulting
services.
Resolution No. 10-8085
Section 3. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED THIS 9th DAY OF lune,2010.
_ 0r
JOS H " LLEY
MA OR
Attes 4
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Deborah S. Irby
City Clerk
Approved as to form and legal sufficiency:
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( ill 1 .. 4 , , ilf‘ _.
Jo. Ytr yeller
C y Attorney
Moved by: JOHNSON
Seconded by: TAYLOR
Commission Vote: 3-0
Commissioner Holmes: OUT OF ROOM
Commissioner Johnson: YES
Commissioner Tydus: NOT PRESENT
Vice-Mayor Taylor: YES
Mayor Kelley: YES
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Memorandum
TO: Mayor Joseph L. Kelley
Vice Mayor Myra L. Taylor
Commissioner Timothy Holmes
Commissioner )Dorothy Johnson
f
Corn issioner ,I e Tydus
E t.
FROM: Clarancefatterson, City nager
DATE: June 2, 2010
RE: Resolution—Payment of Fidelity Financial Services Invoice
Request: APPROVAL OF RESOLUTION AUTHORIZING THE CITY MANAGER
TO PROVIDE PAYMENT TO FIDELITY FINANICAL SERVICES, L.C.
IN THE AMOUNT OF$10,915.00 FOR CONSULTING SERVICES.
Description: To pay for financial consulting services performed by Fidelity Financial Service
L.C. through April 28, 2010.
Financial Impact: $10,915.00 as of May 19, 2010.
Implementation Time Line: Immediately.
Legislative History: Resolutions 06-6855 which amended Resolution 03-6453.
Recommendation(s): Staff Recommends Approval
Prepared by: Ezekiel Orji,Assistant City Manager/Finance Director
Attachment(s): Copy of outstanding invoice dated 04/30/2010.
End of Memorandum
Fidelity Financial Services,L.C. Invoice
2750 N 29th Avenue,Suite 202
Hollywood,FL.33020 DATE
04/30/2010
BILL TO
City of Opa-Locka, Florida City of Opa-Locka,Florida
780 Fisherman Street,4th Floor 780 Fisherman Street,4th Floor
Opa-Locka, Florida 33054 Opa-Locka, Florida 33054
ATTN: Mr.Zeke Orji ATTN: Mr.Zeke Orji
Finance Director Finance Director
TERMS BILLING DATE VIA PROJECT
Due on receipt 04/30/2010 US Mail General Advisory Services
SERVICES STAFF CHARGES/
PROVIDED CLASSIFICATION SERVICES
Financial Advisory services provided pursuant to the Agreement Senior Professional $ 7,175.00
between Fidelity Financial Services, L.C. and the City Commission of (41 hrs)
Opa-Locka. The services were performed by Fidelity in connection
with the providing of general financial consulting services. (Services Senior Consultant 1,860.00
provided to April 28,2010). (12 hrs)
Consultant 1,430.00
(11 hrs)
Clerical/ 450.00
Administrative
(9 hrs)
SPECIAL INSTRUCTIONS:
> None.
Sub Total $10,915.00
Remit payment to:
2750 N.29th Avenue,Suite 202 Reimbursable 0.00
Hollywood,FL.33020 Balance Due
(954)925-5699 $10,915.00
April 30,2010
Previously Un-billed Services
A. Analysis of issuance of Water and Sewer Bank Loan Financings:
• Series 2009
• Series 2012
• Series 2015
• Series 2018
B. Analysis of issuance of Water and Sewer Bonds Offering:
• Series 2009
• Series 2012
• Series 2015
• Series 2018
C. Analysis of issuance of Capital Improvement New Money Bank Loan
D. Analysis of issuance of Series 1994 Capital Improvement Refunding Bank Loan
E. Meetings
F. Drafting of Request for Proposals for the purchase of Capital Improvement Revenue Refunding
Bonds, Series 2010A and Capital Improvement Revenue Refunding Bonds, Series 2010B
Sponsored by: City Manager
Resolution No. 06-6855
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF OPA-LOCKA,FLORIDA AMENDING RESOLUTION NO.
03-6453, TO INCREASE THE COMPENSATION OF FIDELITY
FINANCIAL SERVICES, LLC, IN AN AMOUNT NOT TO
EXCEED FIFTEEN THOUSAND DOLLARS ($15,000.00),PAYABLE
FROM ACCOUNT NO. 519-312 - OTHER PROFESSIONAL
SERVICES
WHEREAS,pursuant to Resolution No. 03-6453,the City Commission
authorized the City Manager to enter into an agreement with Fidelity Financial Services,
LLC to analyze proposals and relevant financial information in connection with future
bond financing for capital improvements, special assessments and joint venture projects
in an amount not to exceed five thousand dollars($5,000.00); and
WHEREAS,the City is in need of continued services of the financial advisor
relating to the scope of work as approved by the City Commission pursuant to Resolution
No. 03-6453.
Section 1. The recitals to the preamble herein are incorporated by reference.
Section 2. Resolution No. 03-6453 is hereby amended to increase the
compensation of Fidelity Financial Services,LLC in an amount not to exceed fifteen
thousand dollars ($15,000.00),payable from account No. 519-312—other professional
services.
Resolution No. 06-6855
Page 2
PASSED AND ADOPTED this 8d' day of March,2006.
Attest to: Approved as to form and legal sufficiency:
441i /
CITY ERK CIT A ''O'
DATE
Moved by: Commissioner Johnson
Seconded by: Vice Mayor Pinder
Commission Vote: 5-0
Commissioner Holmes: Yes
Commissioner Tydus: Yes
Commissioner Johnson: Yes
Vice Mayor Pinder: Yes
Mayor Kelley: Yes
Resolution amending 03-06453 Fidelity Financial Services