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RESOLUTION NO. 2008- rb.b~ A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, APPROVING AN AGREEMENT WITH FIRST SOUTHWEST COMP ANY FOR FINANCIAL CONSULTING SERVICES TO ASSIST IN DEVELOPING A COMPREHENSIVE FINANCING PLAN ON AN HOURLY BASIS WITH A CAP SET AT THIRTEEN THOUSAND DOLLARS ($13,000.00), ATTACHED HERETO AS EXHIBIT "A"; AUTHORIZING THE MAYOR TO EXECUTE SAID AGREEMENT; AUTHORIZING THE CITY MANAGER TO DO ALL OTHER THINGS NECESSARY TO EFFECTUATE THE TERMS OF THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Sunny Isles Beach will have projects coming up and needs assistance in developing a comprehensive financing plan for the City and in securing a credit rating from third party agencies; and WHEREAS, the City Manager has negotiated an agreement with First Southwest Company and desires to enter into the agreement, attached hereto as Exhibit "A", for Financial Advisory Services on an hourly basis, setting a cap at Thirteen Thousand Dollars ($13,000.00) for assistance in developing a comprehensive financing plan. NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section 1. Approval of Agreement. The Agreement with First Southwest Company, for Financial Advisory Services, on an hourly basis with a cap set at Thirteen Thousand Dollars ($13,000.00) for assistance in developing a comprehensive financing plan, attached hereto as Exhibit "A", be, and the same, is hereby approved. Section 2. Authorization of Mayor. The Mayor IS hereby authorized to execute said Agreement. Section 3. Authorization of City Manager. The City Manager is hereby authorized to do all things necessary to effectuate the terms of this Resolution. Section 4. Effective Date. This Resolution will become effective upon adoption. PASSED AND ADOPTED this 1 ih day of January 2008. R2008- Agmt w/First Southwest Co, for Financial Advisory Services