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Home My WebLink About2020 CON NHA Advisors - Municipal Advisory Services - Amendment #1FIRST AMENDMENT TO THE AGREEMENT BY AND BETWEEN THE CITY OF NATIONAL CITY AND NHA ADVISORS, LLC THIS FIRST AMENDMENT TO THE AGREEMENT, is entered into this 21 St day of January, 2020, by and between the CITY OF NATIONAL CITY, a municipal corporation ("CITY"), and NHA ADVISORS, LLC, a California limited liability company (the "CONSULTANT"). RECITALS WHEREAS, the CITY and the CONSULTANT entered into an Agreement on January 17, 2017, ("the Agreement") wherein the CONSULTANT agreed to provide municipal advisory services for the City for the period of January 17, 2017 through December 31, 2019 with two additional one-year options; and WHEREAS, the parties desire to amend the Agreement to extend the term of the Agreement for one year to December 31, 2020. AGREEMENT NOW, THEREFORE, the CITY and CONSULTANT parties agree as follows: This Amendment extends the term of the Agreement for the time period January 1, 2020 through December 31, 2020; and The parties agree that each and every term and provision of the agreement dated January 17, 2017 not specifically amended shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to the Agreement on the date and year first above written. [Signature Page to Follow] CITY OF NATIONA ITY NHA ADVISORS, LLC By: Alejandra ' ote o-`o1is, Mayor APPROVED AS TO F ngil • -Jones City • • ey By ame C! f7/Z-L (Print) j7'j ,A-K> '• P/z/"Jc--t��. (Title) RESOLUTION NO. 2020 - 07 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY AUTHORIZING THE MAYOR TO EXECUTE THE FIRST AMENDMENT TO THE AGREEMENT BY AND BETWEEN THE CITY OF NATIONAL CITY AND NHA ADVISORS, LLC FOR MUNICIPAL ADVISORY SERVICES, EXTENDING THE AGREEMENT TO DECEMBER 31, 2020 WHEREAS, the City desired to engage a consultant for municipal advisory services for the City; and WHEREAS, the City determined that NHA Advisors, LLC., is an investment advisor registered with the Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940, and is qualified by experience and ability to perform the services desired by the City; and WHEREAS, on January 17, 2017, the City entered into an Agreement with NHA Advisors, LLC to perform such services for a period of January 17, 2017 through December 31, 2019 with an option to extend for two additional one-year terms; and WHEREAS, staff seeks approval to execute the first one (1) year amendment to extend the Agreement for a one year term ending December 31, 2020. NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of National City hereby authorizes the Mayor to execute the first one (1) year amendment to extend the Agreement with NHA Advisors, LLC., for a one year term ending December 31, 2020 for municipal advisory services for the City. Said first amendment to the Agreement is on file in the office of the City Clerk. PASSED and ADOPTED this 21st day of January, 2020 Alejandra Sotelo-Solis, Mayor ATTEST: j Michael R. Dalla, City Clerk APPROVED AS TO FORM: n ;Morris -Jo Ci ttorney Passed and adopted by the Council of the City of National City, California, on January 21, 2020 by the following vote, to -wit: Ayes: Councilmembers Cano, Morrison, Quintero, Rios, Sotelo-Solis. Nays: None. Absent: None. Abstain: None. AUTHENTICATED BY: ALEJANDRA SOTELO-SOLIS Mayor of the City of National City, California MICHAEL R. DALLA City Clerk of the City of National City, California By: Deputy I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of RESOLUTION NO. 2020-7 of the City of National City, California, passed and adopted by the Council of said City on January 21, 2020. City Clerk of the City of National City, California By: CITY OF NATIONAL CITY, CALIFORNIA COUNCIL AGENDA STATEMENT MEETING DATE: January 21, 2020 AGENDA ITEM NO.: 15 ITEM TITLE: Resolution of the City Council of the City of National City authorizing the Mayor to execute the First Amendment to the Agreement by and between the City of National City and NHA Advisors, LLC for municipal advisory services, extending the Agreement to December 31, 2020. PREPARED BY: Mark Roberts, Director of Finance DEPARTMENT: Finance�� PHONE: 619-336-4330 APPROVED BY: LIV1- a EXPLANATION: The City of National City entered into an agreement with NHA Advisors, LLC on January 17, 2017 for municipal advisory services for the City for the period of January 17, 2017 through December 31, 2019 with an option for the City to extend the agreement under the same terms and conditions for up to two (2) additional years beyond the initial contract expiration date. Staff seeks approval to exercise the first one (1) year option. This Amendment would extend the Agreement for a one-year term ending December 31, 2020. FINANCIAL STATEMENT: ACCOUNT NO. APPROVED: MIS 001-404-045-213 (Professional Services) Expenses vary depending upon services required; however, since agreement inception, costs have totaled approximately $20,000. ENVIRONMENTAL REVIEW: This is not a project and, therefore, not subject to environmental review. ORDINANCE: INTRODUCTION APPROVED: `!w/!t /eezZ.44. FINANCE FINAL ADOPTION STAFF RECOMMENDATION: Adopt the resolution, authorizing the Mayor to execute the First Amendment to the Agreement by and between the City of National City and NHA Advisors, LLC for municipal advisory services, extending the Agreement to December 31, 2020. BOARD / COMMISSION RECOMMENDATION: ATTACHMENTS: 1. NHA Advisors, LLC agreement amendment 2. Resolution FIRST AMENDMENT TO THE AGREEMENT BY AND BETWEEN THE CITY OF NATIONAL CITY AND NHA ADVISORS, LLC THIS FIRST AMENDMENT TO THE AGREEMENT, is entered into this 21st day of January, 2020, by and between the CITY OF NATIONAL CITY, a municipal corporation ("CITY"), and NHA ADVISORS, LLC, a California limited liability company (the "CONSULTANT"). RECITALS WHEREAS, the CITY and the CONSULTANT entered into an Agreement on January 17, 2017, ("the Agreement") wherein the CONSULTANT agreed to provide municipal advisory services for the City for the period of January 17, 2017 through December 31, 2019 with two additional one-year options; and WHEREAS, the parties desire to amend the Agreement to extend the term of the Agreement for one year to December 31, 2020. AGREEMENT NOW, THEREFORE, the CITY and CONSULTANT parties agree as follows: This Amendment extends the term of the Agreement for the time period January 1, 2020 through December 31, 2020; and The parties agree that each and every term and provision of the agreement dated January 17, 2017 not specifically amended shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to the Agreement on the date and year first above written. [Signature Page to Follow] CITY OF NATIONAL CITY NHA ADVISORS, LLC By: By: Alejandra Sotelo-Solis, Mayor (Name) (Print) APPROVED AS TO FORM: (Title) Angil Morris -Jones City Attorney Exhibit A NHA ADVISORS, LLC HOURLY RATES AND MAXIMUM FEE TO PERFORM MUNICIPAL ADVISORY SERVICES For projects not directly related to the issuance of any debt obligations, the City of National City ("City") will be billed at the following hourly rates: Principal $275 Vice President $225 Associate $175 Analyst $125 Administrative $75 The City will reimburse NHA for reasonable and necessary out-of-pocket expenses, including but not limited to data resources, photocopying, postage, and delivery. California travel will not be considered a reimbursable expense. For projects associated with the issuance of notes, bonds, or other obligations, the City will compensate NHA in accordance with the table below. The ranges provided in the table are indicative. NHA's specific compensation on a project, which shall be agreed upon prior to commencement of the project, will depend upon the time required to complete the process, which is typically a function of credit quality, structure, and nature/extent of NHA's role, and NHA's expected time commitment. Project Fee Range Tax and Revenue Anticipation Notes Certificates of Participation Tax Allocation Bonds Revenue Bonds Assessment Districts Community Facilities Districts $17,500 - $22,500 $42,500 - $67,500 $47,500 - $92,500 $47,500 - $72,500 $32500 - $72,500 $37,500 - $72,500 RESOLUTION NO. 2020 - RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY AUTHORIZING THE MAYOR TO EXECUTE THE FIRST AMENDMENT TO THE AGREEMENT BY AND BETWEEN THE CITY OF NATIONAL CITY AND NHA ADVISORS, LLC FOR MUNICIPAL ADVISORY SERVICES, EXTENDING THE AGREEMENT TO DECEMBER 31, 2020 WHEREAS, the City desired to engage a consultant for municipal advisory services for the City; and WHEREAS, the City determined that NHA Advisors, LLC., is an investment advisor registered with the Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940, and is qualified by experience and ability to perform the services desired by the City; and WHEREAS, on January 17, 2017, the City entered into an Agreement with NHA Advisors, LLC to perform such services for a period of January 17, 2017 through December 31, 2019 with an option to extend for two additional one-year terms; and WHEREAS, staff seeks approval to execute the first one (1) year amendment to extend the Agreement for a one year term ending December 31, 2020. NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of National City hereby authorizes the Mayor to execute the first one (1) year amendment to extend the Agreement with NHA Advisors, LLC., for a one year term ending December 31, 2020 for municipal advisory services for the City. Said first amendment to the Agreement is on file in the office of the City Clerk. PASSED and ADOPTED this 21st day of January, 2020 Alejandra Sotelo-Solis, Mayor ATTEST: Michael R. Dalla, City Clerk APPROVED AS TO FORM: Angil P. Morris -Jones City Attorney CITY OF NATIONAL CITY Office of the City Clerk 1243 National City Blvd., National City, California 91950-4397 619-336-4228 Michael R. Dalla, CMC - City Clerk NHA ADVISORS, LLC Municipal Advisory Services Amendment #1 Karim Galeana (Finance) forwarded a duplicate original Agreement to NHA Advisors, LLC.