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SUNNY •EJ <br /> ,. 7 <br /> AGREEMENT BETWEEN THE CITY OF SUNNY ISLES BEACH <br /> === AND PFM FINANCIAL ADVISORS LLC <br /> 1f '➢�.F OP\O'4' <br /> CONTRACT NO. C6411-1617-040 <br /> N�h <br /> Os sus� <br /> THIS AGREEMENT (hereinafter referred to as the "Agreement") is made in duplicate, <br /> this (64 day of 014-6-044 , 2017 by and between the CITY OF SUNNY ISLES <br /> BEACH, (hereinafter referred to as "City"), and PFM FINANCIAL ADVISORS LLC, a <br /> Corporation authorized to do business in the State of Florida (hereinafter referred to as <br /> "Consultant"), whose Federal I.D. # is 81-1642787. <br /> RECITALS <br /> WHEREAS, City is in need of Consultant to provide financial advisory services on <br /> an as needed basis; and <br /> WHEREAS, Consultant has expressed the ability and desire to provide these Services to <br /> the City pursuant to the pricing terms and conditions offered to the Miami-Dade County, Florida, <br /> Contract No. RFQ00008, a copy of which is attached hereto as Attachment "B", and incorporated <br /> herein by reference; and <br /> WHEREAS,pursuant to the City's procurement code provisions, purchases made under <br /> state, county or other governmental contracts, or competitive bids with other governmental <br /> agencies are exempt from the City's competitive bidding procedures; and <br /> WHEREAS, the City desires to enter into this Agreement with Consultant to provide the <br /> Services in a total amount not to exceed One Hundred Fifty Thousand Dollars ($150,000.00) <br /> during the initial three (3) year term. <br /> NOW THEREFORE, in consideration of the mutual covenants contained herein, and for <br /> other valuable consideration received, the receipt and sufficiency of which are hereby <br /> acknowledged, the parties agree as follows: <br /> 1. RECITALS. The Recitals set forth above are hereby incorporated into this Agreement <br /> and made a part hereof for reference. <br /> 2. SERVICES. Consultant agrees to perform the Services as more particularly described in <br /> Attachment "A", a copy of which is attached hereto and incorporated herein by reference <br /> 3. TERM. Subject to the provisions relating to the termination of this Agreement as set forth <br /> in Section 8 hereunder, the term of this Agreement shall commence upon the execution of this <br /> Agreement and shall terminate no later than three (3) years thereafter, with two (2) options to <br /> renew the Agreement for two(2)years each. In the event the City elects to renew the Agreemnt <br /> during the optional renewal terms, the same pricing schedule of Fifty Thousand Dollars <br /> ($50,000.00) per year shall apply. <br /> 4. COMPENSATION. The Consultant agrees to provide the desired Services to the City in <br /> a total amount not to exceed Fifty Thousand Dollars ($50,000.00) per year, bringing the total <br /> compensation amount not to exceed One Hundred Fifty Thousand Dollars ($150,000.00) for <br /> the initial three (3) year term. Payment to Consultant for all charges and tasks under this <br /> Agreement shall be in accordance with this Agreement and the schedule of charges reflected <br /> in the Miami-Dade County, Florida, Contract No. RFQ00008, as more thoroughly described s I B <br />