HomeMy WebLinkAboutResolutions - No. 2020-165RESOLUTION NO. 2020-165
A RESOLUTION OF THE LODI CITY COUNCIL
AUTHORIZING THE CITY MANAGER TO EXECUTE AMENDMENT
NO. 1 TO THE PROFESSIONAL SERVICES AGREEMENT WITH
FIELDMAN, ROLAPP & ASSOCIATES, OF IRVINE, FOR MUNCIPAL
ADVISORY SERVICES, EXTENDING THE CONTRACT FOR TWO
YEARS, AND ADDING CONTINUING DISCLOSURE CONSULTING
SERVICES FOR ALL CITY DEBT ISSUANCES
WHEREAS, the City contracted with Fieldman, Rolapp & Associates (FRA) in
August 2017 to perform Municipal Advisory Services; and
WHEREAS, FRA has assisted the City with three refundings, saving hundreds of
thousands of dollars per year for Lodi residents; and
WHEREAS, the three transactions varied in structure, utility, and complexity given
external market circumstances, allowing FRA to show the City its diverse skills and ability to
react quickly and effectively to challenging circumstances, all while keeping the City's best
interest at heart; and
WHEREAS, FRA is able to provide low-cost and efficient Continuing Disclosure
Consulting Services to the City of Lodi to ensure the City remains compliant with all current
Continuing Disclosure obligations for all outstanding debt issuances; and
WHEREAS, staff recommends that the City Council authorize the City Manager to
execute Amendment No. 1 to the Professional Services Agreement with Fieldman, Rolapp &
Associates, of Irvine, for Municipal Advisory Services, extending the contract for two years
through August 22, 2022, and adding continuing disclosure services for all City debt issuances,
for a total not -to -exceed amount of $5,000 for the added services.
NOW, THEREFORE, BE IT RESOLVED that the Lodi City Council does hereby
authorize the City Manager to execute Amendment No. 1 to the Professional Services
Agreement with Fieldman, Rolapp & Associates of Irvine, California, for Municipal Advisory
Services, extending the contract for two years through August 22, 2022, and adding Continuing
Disclosure Consulting Services for all City debt issuances, for a total not -to -exceed amount of
$5,000 for the added services.
Dated: August 5, 2020
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I hereby certify that Resolution No. 2020-165 was passed and adopted by the City
Council of the City of Lodi in a regular meeting held August 5, 2020 by the following vote:
AYES: COUNCIL MEMBERS — Chandler, Nakanishi, and Mayor Kuehne
NOES: COUNCIL MEMBERS — Mounce
ABSENT: COUNCIL MEMBERS — None
ABSTAIN: COUNCIL MEMBERS — None
J E N N I F CUSMIR
City Clerk
2020-165