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<br />I <br /> <br />I <br /> <br />I <br /> <br />Sponsored by: ~ <br /> <br />CITY OF SEWARD, ALASKA <br />RESOLUTION 2000-12 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, <br />ALASKA, APPROVING AN ASSIGNMENT OF THE FINANCIAL <br />ADVISORY AGREEMENT BETWEEN THE CITY OF SEWARD AND <br />PUBLIC FINANCIAL MANAGEMENT, INC. TO NORWEST INVESTMENT <br />SERVICES, INC. <br /> <br />WHEREAS, the City of Seward currently has a professional services agreement with <br />Public Financial Management, Inc. (PFM) for financial advisory services; and <br /> <br />WHEREAS, the City's accounts have been handled exclusively by Don Grimes since the <br />early 1980s when the City obtained financing for the Spring Creek Correctional Center; and <br /> <br />WHEREAS, Grimes has recently left PFM and has joined Norwest Investment Services, Inc. <br />in Austin, Texas; and <br /> <br />WHEREAS, Grimes will continue to offer financial advisory services in Alaska under his new <br />affiliation and has expressed a desire to continue to represent the City of Seward; and <br /> <br />WHEREAS, PFM and Norwest have agreed to an assignment of the professional services <br />agreement for financial advisory services to Norwest; and <br /> <br />WHEREAS, City Code S6.1 0.120 (8) allows the City to ~ontract for professional financial <br />advisory services without formal bid procedures. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF SEWARD, ALASKA, that: <br /> <br />Section 1. An assignment of the financial advisory agreement between the City of Seward <br />and Public Financial Management, Inc. to Norwest Investment Services, Inc. is hereby approved and <br />the city manager is authorized to sign the assignment agreement. <br /> <br />Section 2. This resolution shall take effect immediately upon its adoption. <br /> <br />PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this 24th day <br />ofJanuary,2000. <br />