IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
A RESOLUTION authorizing the Director of Finance and Purchasing to execute an addendum to the Fiduciary Engagement Agreement with Stifel, Nicolaus & Co., Inc., of Kansas City, MO, for municipal financial advisory services.
Intro
RESOLUTION NO. 20500, September 21, 2020
INTRODUCED BY Theresa Cass Galvin, County Legislator
Body
WHEREAS, by Resolution 20105, dated March 11, 2019, the Legislature did authorize a one-year term and supply contract with two annual options to extend with George K. Baum & Co. (Baum) of Kansas City, MO, for the furnishing of municipal financial advising services; and,
WHEREAS, since the award of this contract, Baum has been acquired by Stifel, Nicolaus & Co., Inc. (Stifel), of Kansas City, MO, to which were assigned Baum's rights and obligations under the contract; and,
WHEREAS, the contract is now in its first renewal term, which extends through September 11, 2021; and,
WHEREAS, Stifel has requested and the County Administrator now recommends that the compensation arrangement set out in the contract be amended to provide a blended form of compensation, to include hourly rates for certain work and compensation based on a percentage of the transaction for other work, as is fully set out in the attached Exhibit A; and;
WHEREAS, the County Administrator believes that the new compensation arrangement will result in an overall savings to the County; now therefore,
BE IT RESOLVED by the County Legislature of Jackson County, Missouri, that the Director of Finance and Purchasing be and hereby is authorized to execute an appropriate addendum to the Fiduciary Engagement Agreement with Stifel, reflecting the new compensation arrangement, for the term expiring on September 11, 2021, in a form to be approved by the County Counselor.
Enacted and Approved
Effective Date: This Resolution shall be effective immediately upon its passage by a majority of the Legislature.
APPROVED ...
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