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Item C38 BOARD OF COUNTY COMMISSIONERS AGENDA ITEM SUMMARY Meeting Date: February 18, 2004 Division: Management Services Bulk Item: Yesl No Department: Administrative Services AGENDA ITEM WORDING: Approval of Contract with Public Financial Management, Inc. (PFM) as a financial advisor to Monroe County. ITEM BACKGROUND: Administrative Services has completed the RFQ process. Public Financial Management (PFM) has been selected. On February 19, 2003 the BOCC approved an amendment extending contract on a month to month basis until the new contract was approved. PREVIOUS REVELANT BOCC ACTION: Amendment #6 was approved 2/19/2003, Amendment #5 was approved 2/13/2002, Amendment # 4 was approved 2/21/2001, Amendment #3 was approved 1/19/2000, Amendment #2 was approved 1/14/1998, Amendment #1 was approved 11/21/1995 and original contract was approved 6/16/1993. CONTRACT/AGREEMENT CHANGES: Extends services under same scope of services and compensation as original contract and amendments as noted above. STAFF RECOMMENDATIONS: Approval as stated above. REVENUE PRODUCING: Yes NolL BUDGETED: Ye~NO_ ~aL~ hntU.':!;;rt AMOUNT PER MONTH_ Year Ad ItJI ptIIwf TOTAL COST: $2,500./mo. COST TO COUNTY: $2,500/mo. APPROVED BY: County Atty X-- OMB/Purchasing X-Risk Management X t>'; . ,,' ,;/ ; DIVISION DIRECTOR APPROV AL::)<',!IL<:,,'/''''t ll'/>~.'t. //t'L ~..._../ \. / Sheila A. Barker DOCUMENTATION: Included X To Follow_ Not Required_ DISPOSITION: AGENDA ITEM # C3g Revised 2/27/0 I MONROE COUNTY BOARD OF COUNTY COMMISSIONERS :/d CONTRACT SUMMARY Contract with: Public Financial Mgmt. Contract #_ Effective Date: Expiration Date: Contract Purpose/Description: Approval of Contract with Public Financial Management Advisor for the County. Contract Manager: Salvatore Zappulla 4444 (Name) (Ext. ) Office of Management & Budget stop # 1 (Department/Stop #) for B OCC meeting on 2/18/2004 Agenda Deadline: 02103/2004 CONTRACT COSTS Total Dollar Value of Contract: $ $30,000.00 Current Year Portion: $ ~t97/7J Budgeted? Yes~ No 0 Account Codes: 001-001pl-53031O-_- Grant: $ _-_-_ County Match: $ _-_-_-_ - - --- ADDITIONAL COSTS Estimated Ongoing Costs: $_/yr For: (Not included in dollar value above) (eg. maintenance, utilities, janitorial, salaries, etc.) CONTRACT REVIEW Date In Date Out Division Director Risk Management o .M.B.lPurchasing OMB Form Revised 2/27/01 MCP #2 AN AGREEMENT BETWEEN MONROE COUNTY AND PUBLIC FINANCIAL MANAGEMENT, INC. FOR FINANCIAL ADVISORY SERVICES This agreement, made and entered into this day of February, 2004, by and between Monroe County, hereinafter called the "County" and Public Financial Management, Inc., authorized to do business in the State of Florida (hereinafter called the Financial Advisor or "PFM") sets forth the terms and conditions under which the Financial Advisor shall provide services. WITNESSETH WHEREAS, the County issued a Request for Proposal for Financial Advisory Services and PFM was selected by the Board of County Commissioners: and WHEREAS, PFM has served the County since 1986, and: WHEREAS, Monroe County has extended said contract annually for services, and: WHEREAS, Monroe County has completed a RFQ process fOJr Financial Advisory Services and: WHEREAS, the County and PFM have mutually agreed to extend services under the same scope of services and compensation originally negotiated, NOW, THEREFORE, in consideration of the above mentioned premises and for the purposes of this Agreement and the various covenants, conditions, terms and provisions Which follow: I. SCOPE OF SERVICES PFM shall provide, upon request of the County Administrator or County Commission, services related to fmancial planning and policy development and services related to debt issuance. The services provided shall include but not necessarily be limited to the following: 1. Services related to the Financial PlaDninf! and Policv DeveloomeDt uoon reauest ofthe County: · Assist the County in the formulation of Financial and Debt Policies and Administrative Procedures. · Review current debt structure, identifying strengths and weaknesses of structure so that future debt issues can be structured to maximize ability to ["mance future capital needs. This will include, but not be limited, to reviewing existing debt for the possibility of refunding that debt to provide the County with savings. · Analyze future debt capacity to determine the County's ability to raise future debt capital. · Assist the County in the development of the County's Capital Improvement Program by identifying sources of capital funding for infrastructure needs. · Assist the County with the development of the County's Financial Plan by assessing capital needs, identifying potential revenue sources, analyze fmancing alternatives such as pay-as-you-go, lease/purchasing, short-term fmancings, assessments, user fees, impact fees, developer contributions, public/private projects, and grants and provide analysis of each alternative as required as to the budgetary and fmancial impact. · Review the reports of accountants, independent engineers and other project feasibility consultants to ensure that such studies adequately address technical, economic, and financial risk factors affecting the marketability of any proposed revenue debt issues: provide bond market assumptions necessary for fmancial projections included in these studies: attend all relevant working sessions regarding the preparations, review and completion of such independent studies: and provide written comments and recommendations regarding assumptions, analytic methods, and conclusions contained therein. Page I · Develop, manage and maintain computer models for long-term capital planning which provide for inputs regarding levels of ad valorem and non-ad valorem taxation, growth rates by operating revenue and expenditure item, timing, magnitude and cost of debt issuance, and project operating and capital balances, selected operating and debt ratios and other fmancial performances measures as may be determined by the County · Provide debt services schedules reflecting varying intt;rest rates, issue sizes, and maturity structures as these are needed for feasibility consultants or for related County fiscal planning: and · Attend meetings with staff, consultants and County Commission. The County will make a reasonable effort to schedule meetings and consolidate issues to minimize the travel inconvenience to PFM. · Review underwriter's proposals and submit a written analysis of same to the County. · Undertake any and all other fmancial planning and policy development assignments made by the County regarding bond and other financings, and financial policy including budget, tax, cash management issues and related fiscal policy and programs. · Assist the County in preparing fmancial presentations for public hearings and/or referendums. · Provide special financial services as requested by the County. 2. Services Related to Debt Transactions (Include short term financin2s. notes. loans. letters of credit. line of credit and bonds.) Upon the request of the County: · Analyze financial and economic factors to determine if the issuance of bonds is appropriate. · Develop a fmancing plan in concert with County's st~ff which would include recommendations as to the timing and number of series of bonds to be issued. · Assist the County by recommending the best method of sale, either as a negotiated sale, private placement or a public sale. In a public sale, make recommendation as to the determination of the best bid. In the event of a negotiated sale, assist in the solicitation, review and evaluation of any investment banking proposals, and provide advice and information necessary to aid in such selection. · Advise as to the various financing alternatives available to the County. · Develop alternatives related to Debt Transaction including evaluation of revenues available, maturity schedule and cash flow requirements. · Identify key bond features and advise provisions regarding security, reserve fund, flow of funds, redemption provisions, additional parity debt test, etc. · Evaluate benefits of Bond Insurance and/or security insurance for Debt Reserve Fund. · If appropriate, develop credit rating presentation and coordinate with the County the overall presentation to rating agencies. · Assist the County in the procurement of other services relating to debt issuance such as Printing, Paying Agent, Registrar, etc. · Identify key bond covenant features and advise on provisions to be included in bond resolutions regarding security, creation of reserve funds, flow of funds, redemption provisions, additional parity debt test, etc.; review and comment on successive drafts of bond resolutions. · Review the requirements and submit analysis of Insurance, rating agencies and other professionals as they pertain to the County's obligation. Page 2 · Review the terms, conditions and structure of any proposed debt offering undertaken by the County and provide suggestions, modifications and enhancements where appropriate and necessary to reflect the constraints or current fmancial policy and fiscal capability. · Prepare the preliminary and fmal official statement and coordinate with the County the appropriate data, disclosure information and pertinent factors regarding the County and the proposed financing program. · Provide regular updates of tax-exempt bond market conditions and advise the County as to the most advantageous timing for issuing its debt. · Advise the County on the condition of the bond market at the time of sale, including volume, timing considerations, competing offerings, and general economic considerations. · Assist and advise the County in negotiations with investment banking groups regarding fees, pricing of the bonds and final terms of any security offerings, and make in writing defmitive recommendations regarding a proposed offering. Provide assurance that the pricing of the bonds is the lowest price based on existing market conditions. If the bond issue is competitive, the services of the finiancial advisor will be modified to reflect that process, 3. Special Services. upon request ofthe Countv: PFM shall provide special services that will include, but not be limited to, the following: I. Impact fee financial analysis 2. Grantsmanship 3. Rate analysis 4. Management analysis 5. Referendum analysis 6. Legislative initiatives II. WORK SCHEDULE The services of the Financial Advisor are to commence as soon as practicable after the execution of this Agreement and a request by the County for such service, and shall be undertaken for each fmancial transaction or project and completed as to assure completion in a manner and time which are in accordance with the purpose of this Agreement. Services which are not related to a particular transaction shall be completed as agreed between the County and the fmancial Advisor. III. FINANCIAL ADVISORY COMPENSATION For the services described, PFM's professional fees and expenses shall be paid as follows: I. For services related to fmancial planning and policy development The County shall pay PFM $2,500 monthly for unlimited services. 2. For services related to Debt Transaction, (including Bonds but excluding resource recovery) PFM shall receive $1.00 per $1,000 of debt issued with a minimum transaction fee of $25,000 per transaction. For a refunding and competitive issue, PFM's fee will be an additional $7,500 per transaction per service. 3. For services related to Special Services, PFM shall receive an hourly rate as outlined below: Page 3 HOURLY RATE FEE Managing Director Senior Managing Consultant Managing Consultant Consultant Analyst Clerical Administrative $175.00 $160.00 $150.00 $130.00 $110.00 No charge No charge Reimbursable Expense In addition to the above, PFM will be compensated for necessary, reasonable, and documented out-of- pocket expense incurred for travel, meals, lodging as in the amounts authorized by Section 112. 061, Florida Statutes, telephone, mail, and other ordinary cost and any actual extraordinary cost for graphics, printing, data processing and computer time which are incurred by PFM. Appropriate documentation will be provided. For services and expenses related to financial planning, PFM will invoice the County monthly. For services related to Debt Transaction the County will be invoiced by PFM upon completion of the transaction to be paid from the proceeds of the financing. The County and the Financial Advisor reserve the right, during the term of this Agreement, to review the method of compensation. IV. TERMS AND TERMINATION This agreement shall be for a term of one year commencing upon the date first written above. V. ASSIGNABILITY The Financial Advisor shall not assign any interest in this Agreement or subcontract any of the work performed under the Agreement and shall not transfer any interest in the same without the prior written consent of the County. VI. INFORMATION TO BE FURNISHED TO THE FINANCIAL ADVISOR All information, data. and reports in the possession of the County necessary for carrying out the work to be performed under this Agreement shall be furnished to the Financial Advisor without charge by the County, and the County shall cooperate with the Financial Advisor in every way possible. VII. NOTICES When either party desires to give notice unto the other, it must be given by written notice, sent by registered United States mail, with return receipt requested, addressed to the party for whom it is intended, at the place last specified, and the place for giving notice in compliance with the provisions of this paragraph. For the present, the parties designate the following as the respective places for giving notice, to- wit: FOR MONROE COUNTY: Mr. Jim Roberts County Administrator 1100 Simonton Street Key West, FL 33040 FOR THE FINANCIAL ADVISOR Mr. Hal Canary, Senior Managing Consultant Public Financial Management, Inc. 10 I 00 Deer Run Farms Road, Suite 20 I Fort Myers, FL 33912 Page 4 VIII. TITLE TRANSFER The products of this Agreement shall be the sole and exclusive property of the County upon completion or other termination of this Agreement. The Financial Advisor shall deliver to the County copies of any and all material pertaining to the Agreement. IX. FINANCIAL ADVISOR'S REPRESENTATIVES A. Assignment of Named Individuals The following named individuals from PFM shall provided the services set forth in this Agreement: Mr. David Miller, Managing Director Mr. Hal Canary, Senior Managing Consultant, Client Manager TEAM MEMBERS David Miller, Managing Director Hal Canary, Senior Managing Consultant, Client Manager Kelly Ryman, Consultant Kyrle Turton, Consultant Rebecca Peterson, Consultant, Orlando Jay Glover, Consultant, Orlando B. Changes in Staff Requested by the County The County has the right to request, for any reason, PFM to replace any member of the advisory staff. Should the County make such a request, PFM shall promptly suggest a substitute for approval by the County. X. INSURANCE AND INDEMNIFICATION PFM shall indemnify, save and hold the County harmless from any and all claims, suits, judgments, or damages of any kind or description including court costs and attorney:s fees arising out ofPFM's errors, omissions or negligent acts in the performance of this agreement. PFM has a comprehensive insurance program (self-insurance) for all types of coverage including, but not limited to comprehensive general liability, professional liability, automobile liability and worker's compensation. PFM will provide an insurance certificate upon request. XI. FINANCIAL ADVISOR'S REPRESENT A TIVES PFM shall provide all insurance coverage as required by the County. XII. MISCELLANEOUS A. PFM shall maintain all books, records, and documerlts directly pertinent to performance under this Agreement in accordance with generally accepted accounting principles consistently applied. Each party to this Agreement or their authorized representatives shall have reasonable and timely access to such records of each other party to this Agreement for public records purposes during the term of the Agreement and for four years following the termination ofthis Agreement. B. Governing Law, Venue, Interpretation, Costs, and Fees: This Agreement shall be governed by and construed in accordance with the laws of the State of Florida applicable to contracts made and to be performed entirely in the State. In the event that any cause of action or administrative proceeding is instituted for the enforcement or interpretation of this Agreement, the County and PFM agree that venue will lie in the appropriate court or before the appropriate administrative body in Monroe County, Florida. Page 5 The County and PFM agree that, in the event of conflicting interpretations of the terms or a term of this Agreement by or between any of them the issue shall be submitted to mediation prior to the institution of any other administrative or legal proceeding. C. Severability. If any term, covenant, condition or provision of this Agreement (or the application thereof to any circumstance or person) shall be declared invalid or unenforceable to any extent by a court of competent jurisdiction, the remaining terms, covenants, conditions and provisions of this Agreement, shall not be affected thereby; and each remaining term, covenant, condition and provision of this Agrpement shall be valid and shall be enforceable to the fullest extent permitted by law unless the enforcement of the remaining terms, covenants, conditions and provisions of this Agreement would prevent the accomplishment of the original intent of this Agreement. The County and PFM agree to reform the Agreement to replace any stricken provision with a valid provision that comes as close as possible to the intent of the stricken provision. D. Attorney's Fees and Costs. The County and PFM agree that in the event any cause of action or administrative proceeding is initiated or defended by any party relative to the enforcement or interpretation of this Agreement, the prevailing party shall be entitled to reasonable attorney's fees, court costs, investigative, and out-of- pocket expenses, as an award against the non-prevailing party, and shall include attorney's fees, courts costs, investigative, and out-of-pocket expenses in appellate proceedings. Mediation proceedings initiated and conducted pursuant to this Agreement shall be in accordance with the Florida Rules of Civil Procedure and usual and customary procedures required by the circuit court of Monroe County. E. Binding Effect. The terms, covenants, conditions, and provisions of this Agreement shall bind and inure to the benefit of the County and PFM and their respective legal representatives, successors, and assigns. F. Authority. Each party represents and warrants to the other that the execution, delivery and performance of this Agreement have been duly authorized by all necessary County and corporate action, as required by law. G. Claims for Federal or State Aid. PFM and County agree that each shall be, and is, empowered to apply for, seek, and obtain federal and state funds to further the purpose of this Agreement; provided that all applications, requests, grant proposals, and funding solicitations shall be approved by each party prior to submission. H. Adjudication of Disputes or Disagreements. County and PFM agree that all disputes and disagreements shall be attempted to be resolved by meet and confer sessions between representatives of each of the parties. If no resolution can be agreed upon within 30 days after the frrst meet and confer session, the issue or issues shall be discussed at a public meeting of the Board of County Commissioners. If the issue or issues are still not resolved to the satisfaction of the parties, then any party shall have th~ right to seek such relief or remedy as may be provided by this Agreement or by Florida law. I. Nondiscrimination. County and PFM agree that there will be no discrimination against any person, and it is expressly understood that upon a determination by a court of competent jurisdiction that discrimination has occurred, this Agreement automatically terminates without any further action on the part of any party, effective the date of the court order. County or PFM agree to comply with all Federal and Florida statutes, and all local ordinances, as applicable, relating to nondiscrimination. These include but are not limited to: I) Title VI of the Civil Rights Act of 1964 (PL 88-352) which prohibits discrimination on the basis of race, color or national origin; 2) Title IX of the Education Amendment of 1972, as amended (20 USC ss. 1681-1683, and 1685-1686), which prohibits discrimination on the basis of sex; 3) Section 504 of the Rehabilitation Act of 1973, as amended (20 USC s. 794), which prohibits discrimination on the basis of handicaps; 4) The Age Discrimination Act of 1975, as amended (42 USC ss. 6101-6107) which prohibits discrimination on the basis of age; 5) The Drug Abuse Office and Treatment Act of 1972 (PL 92-255), as amended, relating to nondiscrimination on the basis of drug abuse; 6) The Comprehensive Alcohol Abuse and Alcoholism Prevention, Treatment and Rehabilitation Act of 1970 (PL 91-616), as amended, relating to nondiscrimination on the basis of alcohol abuse or alcoholism; 7) The Public Health Service Act of 1912, ss. 523 and 527 (42 USC ss. 690dd-3 and 290ee-3), as amended, relating to confidentiality of alcohol and drug abuse patent records; 8) Title VIII of the Civil Rights Act of 1968 (42 USC s. et seq.), as amended, relating to nondiscrimination in the sale, rental or tmancing of housing; 9) The Americans with Disabilities Act of 1990 (42 USC s. 1201 Note), as maybe amended from time to time, relating to nondiscrimination on the basis of disability; 10) Any other nondiscrimination provisions in any Federal or state statutes which may apply to the parties to, or the subject matter of, this Agreement. Page 6 T. No Personal Liability. No covenant or agreement contained herein shall be deemed to be a covenant or agreement of any member, officer, agent or employee of Monroe County in his or her individual capacity, and no member, officer, agent or employee of Monroe County shall be liable personally on this Agreement or be subject to any personal liability or accountability by reason of the execution of this Agreement. U. Execution in Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be regarded as an original, all of which taken together shalf constitute one and the same instrument and any of the parties hereto may execute this Agreement by singing any such cpunterpart. V. Section Headings. Section headings have been inserted in this Agreement as a matter of convenience ofreference only, and it is agreed that such section headings are not a part of this Agreement and will not be used in the interpretation of any provision of this Agreement. IN WITNESS THEREOF, the County and Financial Advisory have executed this Agreement as of the day and year herein above written. (SEAL) Attest: DANNY L.KOLHAGE, Clerk BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA By Deputy Clerk By Mayor/Chairperson Date (SEAL) ATTEST: PUBLIC FINANCIAL MANAGEMENT, INC. BY: BY: Title Title Date jconPFM Page 8 PUBLIC ENTITY CRIME STATEMENT "A person or affiliate who has been placed on the convicted vendor list following a conviction for public entity crime may not submit a bid on a contract to provide any goods or services to a public entity, may not submit a bid on a contract with a public entity for the construction or repair of a public building or public work, may not submit bids on leases of real property to public entity, may not be awarded or perform work as a contractor, supplier, subcontractor, or consultant under a contract with any public entity, and may not transact business with any public entity in excess of the threshold amount provided in Section 287.017, for CATEGORY TWO for a period of 3 6 months from the date of being placed on the convicted vendor list." LOBBYING AND CONFLICT OF INTEREST CLAUSE SWORN STATEMENT UNDER ORDINANCE NO. 010-1990 MONROE COUNTY, FLORIDA ETHICS CLAUSE Hal Canary warrants that he/it has not employed, retained or otherwise had act on his/its behalf any former County officer or employee in violation of Section 2 of Ordinance No. 10-1990 or any County officer or employee in violation of Section 3 of Ordinance No. 10-1990. For breach or violatibn of this provision the County may, in its discretion, terminate this contract without liability and may also, in its discretion, deduct from the contract or purchase price, or otherwise recover, the full amount of any fee, commission, percentage, gift, or consideration paid to the former County officer or employee, (signature) Date: 02/18/2004 STATE OF COUNTY OF PERSONALLY APPEARED BEFORE ME, the undersigned authority, who, after first being sworn by me, affixed his/her signature (name of individual signing) in the space provided above on this day of ,20 . NOTARY PUBLIC My commission expires: OMB - MCP FORM #4 CONTRACT ADDENDUM This addendum is made and entered into this 19th day of February, 2003, between MONROE COUNTY, (County) and PUBLIC FINANCIAL MANAGEMENT, INc, (Financial Advisor) in order to amend that certain agreement entered into on September 22, 1994; and amended November 21, 1995, January 14, 1998, January 19,2000, February 21, 2001, and February 13, 2002. WHEREAS, Monroe County is advertising a request for qualifications for Financial Advisor Services; and WHEREAS, the agreement for Financial Services will not become effective until after the current agreement with Financial Advisor expires. Now THEREFORE, IN CONSIDERATION of the mutual terms understandings, conditions, promises, covenants, and payments hereinafter set forth, County and Financial Advisor agree as follows: Section 1. Recitals. The above recitals are true and correct and incorporated herein. Section 2. Term. This agreement is hereby extended on a month-to-month basis until such time as a permanent agreement for these services is entered into. Section 3. Other Conditions. All other conditions of the Agreement shall remain in full force and effect. IN WIT~~~HEREOF, the parties have hereunto set their hands and seal, the day and year first wn~t;.O,~\i1bove. . :,.,. ," ...../) ,~. . ~: (Seal)"'" Attest DANNY L'. ~OLHAGE, CLERK BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA By~,-jc.. ~~ Deputy Clerk ~~i~ >n ~ , Mayor/ Chairman PUBLIC FINANCIAL MANAGEMENT By:-Q ~ ;J1ffi- ''11:1 ')..H~nO~ 30BNOH '13 'Bq" ~,~~.\-wo 3~'\fH10)\ ,~,.-. ~ Title: m~~)~j 1J\'f'e~tor 8~ :9 \4'tJ \ \ ~~W (iJOl m.1Q::rrcl B03 G31\d 5th AMENDNlENT TO AGREEMENT BETWEEN MONROE COUNTY AND PUBLIC FINANCIAL MANAGEN1ENT, INC. FOR FINANCIAL ADVISOR SERVICES WHEREAS, Monroe Coupty, hereinafter referred to as "County" and Public Financial Management, Inc., hereinafter referred to as "Financial Advisor", entered into an Agreement, which was effective September 22, 1994; and amended November 21, 1995; January 14, 1998; January 19,2000; and February 21,2001. WHEREAS, County is desirous of continuing the services of the Financial Advisor to develop for the County and assist in implementing strategies to meet its current and long term operations and capital financing needs and render assistance in the preparation and marketing of bond issues by the County; ,and \YHEREAS, both parties wish to extend the said Agreement. NO'\Y THEREFORE, IN CONSIDERA TION of the mutual terms, understandings, conditions, promises, convenants, and !payments hereinafter set forth, County and Financial Advisor agree as follows: Section 1. here in. Recitals. The above recitals are true and correct and incorporated Section 2. Term. This Agreement shall remain in effect for one (1) year term commencing on the date of the signature of the last party to sign unles's canceled in writing by either party upon thirty (30) days written notice to the other party. 1 Section 3. Other Conditions. All other conditions of the Agreement shall remain in full force and effect. Board of County Commissioners, signing by and Jhrough its Chairman, execute same by Board action on the ';5 day of ~ ' -z.O."2- ::::.,.-;>Wish.e.r;,Managing Director duly authorized to execute sam . ,.{2;<>- - . - JiW;:~;~(' \ \.~~;__;:j',:, li~($~?':"'''''' \ ~.t,"'::' :'; -.- ~ SS~.~~~~:,::J .." - ~~~~. :.,..~DANNY L. KOLHAGE, "'"... .' - ...1.; +~ ...~..-; ...... ~G:.~~ eputy Clerk IN "VITNESS "VHEREOF, the parties hereto have made and executed this Amendment on the respective dates under each signature: Monroe County through its authorized to and Lavon P. BOARD OF COUNTY COMMISSIONERS OF MONROE CO~, FLORIDA By: 'f \ Mayor/Chairman i,. PUBliC FINANCIAL MANAGEMENT, INC. ~CWrrv1 (? (L~~ ~ - Lavon H Wisher, Managing Director BY ZANN~ A. HunaN DATE' iii/to 2- 2 4 thAMENDMENT TO AGREEMENT BETWEEN MONROE COUNTY AND PUBLIC FINANCIAL MANAGEMENT, INe. FOR FINANCIAL ADVISOR SERVICES WHEREAS, Monroe County, hereinafter referred to as "County" and Public Financial Management, Inc., hereinafter referred to as "Financial Advisor", entered into an Agreement, which was effective September 22, 1994; and amended November 21, 1995; January 14, 1998; and January 19, 2000. WHEREAS, County is desirous of continuing the services of the Financial Advisor to develop for the County and assist in implementing strategies to meet its current and long term operations and capital financing needs and render assistance in the preparation and marketing of bond issues by the County; and WHEREAS, both parties wish to extend the said Agreement. NOW THEREFORE, IN CONSIDERA TION of the mutual terms, understandings, conditions, promises, convenants, and payments hereinafter set forth, County and Financial Advisor agree as follows: Section 1. here in. Recitals. The above recitals are true and correct and incorporated .... ......: Section 2. Term. This Agreement shall remain in effect for one (1) year term commencing on the date of the signature of the last party to sign unless canceled in writing by either party upon thirty (30) days written notice to the other party. 1 Section 3. Other Conditions. All other conditions of the Agreement shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have made and executed this Amendment on the respective dates under each signature: Monroe County through its Board of County Commissioners, signing by and JiPrough its Chairman, authorized to execute same by Board action on the ~ay of ~ ' .La ~ J and Lavon P. ~'i;;;' a anaging Director duly authorized to execute same. ",.:0, 0 -~ ~~:'~ , ~?.;:". . V".;\~ 1li!~~. .18 23 .4\ I~!' II ;1,.:; i F'fl .:.~~ \ ~ EJ " ; dJ ~~ ~ ~~h \'~~~~~ ,..' .,{!JANNY L. KOLHAGE, ~1 C7 //~ ~utYClerk BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA ~~~ By: i 0 Mayor/Chairman 1/1 r- r , --l:e.~,-~\J L'-.j PUBLIC FINANCIAL MANAGEMENT, INe. .--f? f? J/ /' / C1 au-o-n\:J. {A /A LJ ~/-t A / Lavon P. Wisher, Managing Director ZANN~ ~0' H TTON ... 'T~. v/~ Il/ f 2 ~la1YIII 3cd AMENDMENT TO AGREEMENT BETWEEN MONROE COUNTY AND PUBLIC FINANCIAL MANAGEMENT, INe. FOR FINANCIAL ADVISOR SERVICES WHEREAS, Monroe County, hereinafter referred to as "County" and Public Financial Management, Inc., hereinafter referred to as "Financial Advisor", entered into an Agreement, which was effective September 22, 1994; and amended November 21, 1995; and January 14, 1998. WHEREAS, County is desirous of continuing the services of the Financial Advisor to develop for the County and assist in implementing strategies to meet its current and long term operations and capital financing needs and render assistance in the preparation and marketing of bond issues by the County; and WHEREAS, both parties wish to extend the said Agreement. NOW THEREFORE, IN CONSIDERATION of the mutual terms, understandings, conditions, promises, convenants, and payments hereinafter set forth, County and Financial Advisor agree as follows: Section 1. here in. Recitals. The above recitals are trrue and correct and incorporated Section 2. Term. This Agreement shall remain in effect for one (1) year term commencing on the date of the signature of the last party to sign unless canceled in writing by either party upon thirty (30) days written notice to the other party. I Section 3. Other Conditions. All other conditions of the Agreement shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have made and executed this Amendment on the respective dates under each signature: Monroe County through its Board of County Commissioners, signing by and through its Chairman, authorized to execute same by Board action on the _day of and Lavon P. Wisher, Managing Director duly authorized to execute ~ame. (SEAL) ATTEST: DANNY L. KOLHAGE, CLERK BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA By: By: Deputy Clerk M~yor/Chairman PUBLIC FlNANCIAL MANAGEMENT, INe. ,i'L{.~,Y1 ,c? 1J1A:1-/~ / Lavon P. Wisher, Managing Director ~~ RNEY'S OffICE 2 , . 2ND AMENDMENT TO AGREEMENT BETWEEN MONROE COUNTY AND ~ PUBLIC FlNANCIAL MANAGEMENT, mc. FOR FINANCIAL ADVISOR SERVICES WHEREAS" Monroe County, hereinafter referred to as "County" and Public Financial Management, Inc., hereinafter referred to as "Financial Advisor", entered into an Agreement, which was effective September 22, 1994 and amended November 21, 1995; and .. WHEREAS, County is desirous of continuing the services of the Financial Advisor to develop for the County and assist in implementing strategies to meet its current and long term operations and capital financing needs and render assistance in the preparation and marketing of bond issues by the County; and WHEREAS, both parties wish to extend the said Agreement. NOW THEREFORE, IN CONSIDERATION of the mutual terms, understandings, conditions, promises, convenants, and payments hereinafter set forth, County and Financial Advisor' agree as follows: Section 1. here in. Recitals. The above recitals are true and correct and incorporated Section 2. Tenn. This Agreement shall remain in effect for a two (2) year term coinmencing on the date of the signature o( the last party to sign unless canceled in writing by either party upon Thirty (30) days written notice to the other party. , RSW:2069-1 (30bOI !.DOC) 1009/97 11:44 AM . . , , Section 3. Other Conditions. All other conditions of the Agreement shall remain in full force and effect. '* IN WITNESS WHEREOF, the parties hereto have made and executed this Amendment on the respective dates under each signature: MOiFroe ounty through its Board of County Commissioners, signing by ~~gh its an, authorized to execute same by Board action pn the/.E day of ,'-f ,199.~ d Lavon P. Wisher, Mana~~~~:::Director duly authorized to execute same. ,...,~'~3<~,. .' "\. ~ :0--.' "., ./~';'~8\\~ . ~\"~ ;1 .I ...... .l\..... ". ", "'&YL. KOLHAGE, CLE~ 3; j... ..:..../:'/ ~ . By~a.lLl Q c. /fJuJJ~ Deputy Clerk ~~ ~ :!ltss V~~ Witness . RSW:2069-1 (30bOt !.DOC) 10/29/97 II:~ AM BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA ~ PUBLIC FINANCIAL MANAGEMENT, INC. J]QAnN\ G=? tL}~~ Lavon P. Wisher, Managing Director r AMENDMENT TO AGREEMENT BETWEEN FOR ~ " L: , - - -.,.. " r ~ fTl ," - -.. ,. .- - CJ -, -- I:.- : ::::0 - . '. :z: -n ; 0 -- " - I ~ - .t::. -v ..... ~"... ,--', ::.0 " ~ fTl -, .- n '-' - (..j 0 ::0 co CJ MONROE COUNTY AND PUBLIC FINANCIAL MANAGEMENT, INC. FINANCIAL ADVISOR SERVICES WHEREAS, Monroe County, hereinafter referred to as "County", and Public Financial Management, Inc" hereinafter referred to as "financial Advisor", entered into an Agreement, which was effective September 22, I 994; and WHEREAS, County is desirous of continuing the services of the Financial Advisor to develop for the County and assist in implementing strategies to meet its current and long term operations and capital financing needs and render assistance in the preparation and marketing of bond issues by the County; and WHEREAS, both parties wish to extend the said Agreement. NOW THEREFORE, IN CONSIDERA TION of the mutual terms, understandings, conditions, promises, convenants, and payments hereinafter set forth, County and Financial Advisor agree as follows: Section 1. Recitals. incorporated herein. The above recitals are true and correct and Section 2. Term. This Agreement shall remain in effect for a two (2) year term commencing on the date of the signature of the last party to sign unless canceled in writing by either party upon Thirty (30) days written notice to the other party, Section 3. Other Conditions. All other conditions of the Agreement shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have made and executed this Amendment on the respective dates under each signature: Monroe County through its Board of County Commissioners, signing by and through its Chairman, authorized to execute same by Board action on the~J day of '17 CK..r; , 1995 and Lavon P. Wisher, Managing Director duly authorized to execute same. (SEAL) A TrEST: DANNY L. KOLHAGE, CLERK BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA BY:~C. ~ Deputy Clerk By:cJ'~-F~ Mayor/Ch' an PUBLIC FINANCIAL MANAGEMENT, INC. - cP(M~ C? k}A4~ Lavon P. Wisher, Managing Director Witness APPROVED A TO FORM y tJ I--- PE- 2 AN AGREEMENT BETWEEN MONROE COUNTY AND PUBLIC FINANCIAL MANAGEMENT, INC. FOR FINANCIAL ADVISORY SERVICES This agreement, made and entered into this 16th day of June , 1993, by and between Monroe County, hereinafter called the "County" and Public Financial Management, Inc., a wholly owned subsidiary of Marine Midland Bank, Inc. N.A. authorized to do business in the State of Florida (hereinafter called the Financial Advisor or "PFM") sets forth the terms and conditions under which the Financial Advisor shall provide services. WITNESSETH WHEREAS, the County issued a Request for Proposal for Financial Advisory Services and PFM was selected by the Board of County Commissioners; and WHEREAS, PFM has served the County since 1986, and; WHEREAS, Monroe County has extended said contrac,t annually for services, and; WHEREAS, the County and PFM have mutually agreed to extend services under the same scope of services and compensation originally negotiated, NOW, TIffiREFORE, in consideration of the above mentioned premises and for the purposes of this Agreement and the various covenants, conditions, terms and provisions which follow: I. SCOPE OF SERVICES PFM shall provide, upon request of the County Administrator or County Commission, services related to financial planning and policy development and services related to debt issuance. The services provided shall include but not necessarily be limited to the following: 1 . Services related to the Financial Planning Development upon request of the County: and Policv -T1 'Ci ~ . L.) . _,_ ;"'Tl Assist the County in the formulation of Financial and.Debt Policies ',-:] and Administrative Procedures. . .. ... f= '=:' .._) ... I;::; Review current debt structure, identifying strengths and weakn~ses::} of structure so that future debt issues can be structured-to max@ize 'ri ability to finance future capital needs. This will include, but not be:~ limited to, reviewing existing deb:t for the possibility of refurfrling ....~ that debt to provide the County with savings. . . Analyze future debt capacity to determine the County's ability to raise future debt capital. Page I · Assist the County in the development of the County's Capital Improvement program by identifying sources of capital funding for infrastructure needs. · Assist the County with the development of the County's Financial Plan by assessing capital needs, identifying potential revenue sources, analyze financing alternatives such as pay-as-you-go, lease/purchasing, short-tenn vs. long-tenn financings, assessments, user fees, impact fees, developer contributions, public/private projects, and grants and provid~ analysis of each alternative as required as to the budgetary and financial impact. · Review the reports of accountants, independent engineers and other project feasibility consultants to ensure that such studies adequately address technical, economic, and financial risk factors affecting the marketability of any proposed revenue debt issues; provide bond market assumptions necessary for financial projections included in these studies; attend all relevant working sessions regarding the preparations, review and completion of such independent studies; and provide written comments and recommendations regarding assumptions, analytic methods, ana conclusions contained therein. Develop, manage and maintain computer models for long-tenn capital planning which provide for inputs regarding levels of ad valorem and non-ad valorem taxation, growth rates by operating revenue and expenditure item, timing, magnitude and cost of debt issuance, and project operating and capital balances, selected operating and debt ratios and other financial perronnance measures as may be detennined by the County. · Provide debt services schedules reflecting varying interest rates, issue sizes, and maturity structures as these are needed for feasibility consultants or for related County fiscal planning; and · Attend meetings with staff, consultants and County Commission. The County will make a reasonable effort to schedule meetings and consolidate issues to minimize the travel inconvenience to PFM. · Review underwriter's proposals and submit a written analysis of same to the County. · Undertake any and all other financial planning and policy development assignments made by the County regarding bond and other financings, and financial policy including budget, tax, cash management issues and related fiscal policy and programs. Assist the County in preparing financial presentations for public hearings and/or referendums. Provide special financial services as requested by the County. Page 2 2. Services Related to Debt Transactions (Includes short term financinl:s. notes. loans. letters of credit. line of credit and bonds). Upon the reQuest of the County: · Analyze financial and economic factors to determine if the issuance of bonds is appropriate. Develop a financing plan in concert with County's staff which would include recommendations as to the timing and number of series of bonds to be issued. · Assist the County by recommending the best method of sale, either as a negotiated sale, private p1ac~ment or a public sale. In a public sale, make recommendation as to the determination of the best bid. In the event of a negotiated sale, assist in the solicitation, review and evaluation of any investment banking proposals, and provide advice and information necessary to aid in such selection. · Advise as to the various financing alternatives available to the County. · Develop alternatives related to Debt Transaction including evaluation of revenues available, maturity schedule and cash flow req uirements. · Identify key bond features and advise provisions regarding security, reserve fund, flow of funds, redemption provisions, additional parity debt test, etc. Evaluate benefits of Bond Insurance and/or security insurance for Debt Reserve Fund. · If appropriate, develop credit rating presentation and coordinate with the County the overall presentation to rating agencies. · Assist the County in the procurement of other services relating to debt issuance such as Printing, Paying Agent, Registrar, etc. · Review the reports of accountants, independent engineers and other project of feasibility consultants as requested to ensure that such studies adequately address technical, economic and financial risk factors affecting the marketability of any proposed revenue debt issue; provide bond market assumptions necessary for financial projections included in these studies; and provide written comments regarding assumptions, analytical methods, and conclusions contained therein. Identify key bond covenant features and advise on provisions to be included in bond resolutions regarding security, creation of reserve funds, flow of funds, redemption provisions, additional parity debt test, etc.; review and comment on successive drafts of bond resolutions. Page 3 · Review the requirements and submit analysis of Insurance, rating agencies and other professionals as they pertain to the County's obligation. · Review the terms, conditions and structure of any proposed debt offering undertaken by the County and provide suggestions, modifications and enhancements where appropriate and necessary to reflect the constraints or current financial policy and fiscal capability. · Prepare the preliminary and final official statement and coordinate with the County the appropriate data, disclosure information and pertinent factors regarding the County and the proposed financing program. · Provide regular updates of tax-exempt bond market conditions and advise the County as to the most advantageous timing for issuing its debt. · Advise the County on the condition of the bond market at the time of sale, including volume, timing considerations, competing offerings, and general economic considerations. · Assist and advise the County in negotiations with investment banking groups regarding fees, pricing of the bonds and final terms of any security offering, and make in writing definitive recommendations regarding a proposed offering. Provide assurance that the pricing of the bonds is the lowest price based on existing market conditions. If the bond issue is competitive, the services of the financial advisor will be modified to reflect that process. 3. Special Services. Upon reQuest of :the County: PFM shall provide which shall include, but not be~ limited to, the following: 1. Impact fee financial analysis 2. Grantsmanship 3. Rate analysis 4. Management analysis 5 . Referendum assistance 6. Legislative initiatives II. WORK SCHEDULE The services of the Financial Advisor are to commence as soon as practicable after the execution of this Agreement and a request by the County for such service, and shall be undertaken for each financial transaction or project and cQmpleted as to assure completion in a manner and time which are in accordance with the purpose of this Agreement. Services which are not related to a particular transaction shall be completed as agreed between the County and the Financial Advisor. Page 4 III. FINANCIAL ADVISORY COMPENSATION For the services described, PFM's professional fees and expenses shall be paid as follows: 1. For services related to financial planning and policy development: The County shall pay PFM $2,500 monthly for unlimited service. 2. For services related to Debt Transactionj, (including Bonds but excluding resource recovery) PFM shall receive $1;00 per $1,000 of debt issued with a minimum transaction fee of $25,000 per transaction. For a refunding and competi?ve issue, PFM's fee will be an additional $7,500 per transaction per servIce. 3. For services related to Special Services, PFM shall receive an hourly rate as outlined below: HOURLY RATE FEE Managing Director Senior Managing Consultant Managing Consultant Consultant Analyst Clerical Administrative $175.00 $160.00 $150.00 $130.00 $110.00 No Charge No Charge Reimbursable Expense In addition to the above, PFM will be compensated for necessary, reasonable, and documented out-of-pocket expenses incurred for travel, meals, lodging as in the amounts authorized by Section 112.061, Florida Statutes, telephone, mail, and other ordinary cost and any actual extraordinary cost for graphics, printing, data processing and computer time which are incurred by PFM. Appropriate documentation will be provided. For services and expenses related to finaI}cial planning, PFM will invoice the County monthly. For services related to Debt Transaction tlie County will be invoiced upon completion of the transaction to be paid from the proceeds of the financing. The County and the Financial Advisor reserve the right, during the term of this Agreement, to review the method of cqmpensation. IV. TERMS AND TERMINATION This agreement shall be for a term of one year commencing upon the date first written above. Page 5 V. ASSIGNABILITY The Financial Advisor shall not assign any interest in this Agreement or subcontract any of the work performed under the Agreement and shall not transfer any interest in the same without the prior written consent of the County. VI. INFORMATION TO BE FURNISHED TO THE FINANCIAL ADVISOR All information, data, reports, and records in the possession of the County necessary for carrying out the work to be performed under this Agreement shall be furnished to the Financial Advisor without charge by the County, and the County shall cooperate with the Financial Advisor in every way possible. VII. NOTICES When either party desires to give notice unto the other, it must be given by written notice, sent by registered United States mail, with return receipt requested, addressed to the party for whom it is intended, at the place last specified, 'and the place for giving notice in compliance with the provisions of this paragraph. For th~ present, the parties designate the following as the respective places for giving notice, to-wit: FOR MONROE COUNTY: Mr. Thomas Brown County Administrator 5400 Junior College Road Public Service Building Wing II Stock IslandlKey West, FL 33040 FOR TIlE FINANCIAL ADVISOR: Ms. Lavon P. Wisher, Managing Director Public Financial Management, Inc. 5900 Enterprise Parkway Fort Myers, FL 33905 VIII. TITLE TRANSFER The products of this Agreement shall be the sole and exclusive property of the County upon completion or other termination of this Agreement. The Financial Advisor shall deliver to the County copies of any and all material pertaining to this Agreement. IX. FINANCIAL ADVISOR'S REPRESENTATIVES A. Assignment of Named Individuals The following named individuals from PFM shall provided the services set forth in this Agreement: Lavon Wisher, Managing Director, Client Manager Stacey Donnelly, Managing Consultant, Project Coordinator Page 6 TEAM rvtEMBERS Matthew Smith, Analyst Thomas Huestis, Senior Managing Consultant Rick Patterson, Managing Consultant David Miller, Managing Consultant Lydia Brown, Analyst B. Changes in Staff Requested by the County The County has the right to request, for any reasbn, PFM to replace any member of the advisory staff. Should the County make such a request, PFM shall promptly suggest a substitute for approval by the County. X. INSURANCE AND INDEMNIFICATION PFM shall indemnify, save and hold the County harmless from any and all claims, suits, judgments or damages of any kind or description including court costs and attorney's fees arising out of PFM's errors, omissions or negligent acts in the performance of this agreement. PFM has a comprehensive insurance program, (self-insurance) for all types of coverage including, but not limited to comprehensive general liability, professional liability, automobile liability and worker's compensation. PFM will provide an insurance certificate upon request. XI. FINANCIAL ADVISOR'S REPRESENTATIVES PFM shall provide all insurance coverage as required by the County. IN WITNESS THEREOF, the County and Financial Advisory have executed this Agreement as of the day and year herein above written BY: DA AmST:~~)~~ b.C!/. A TrEST: xfIAl'D(j ^ 9rYn/YYJ QO () ../(Witness) ~d~ (Witness) PUB~ANCIAL MAZ1E~NT, 1Ne. BY: ~ ~~A./ Managing Director DATE: Page 7 SWORN STATEMENT UNDERSECfION 287.133(3)(a), FLORIDA S1 A TlITES, ON PUBLIC ENTITY CRIMES IN THE PRESENCE OF A NOTARY PUBLIC OR OTHER OFFICER AlITHORIZim TO :,mitted with Bid, Proposal or Contract No. :ivisory Services .rnitted by Public FinanciallManagement, Inc, (name of Jntity submitting sworn statement] 5900 Enterprise Parkway Ft. Myers, FL 33905 and :1ployer Identification Number (FEIN) is 23-199-2164 .dude the Sodal Security Number of the ipdividual signing this sworn statement .) .lisher [please print name of individual signing I and my relationship to the Managing Director ~ntity crime" as defined in Paragraph 287. 133(1)(g), Florida Statutes. means a violation of person with respect to and directly related to the transaction of business with any public -olitical subdivision of any other state or with the United States, including, but not limited ods or services to be provided to any public entity or an agency or political subdivision of eel States and involving antitrust, fraud, theft, bribery, collusion, racketeering, conspiracy, ::no " or "conviction" as defined in Paragraph 287.133(1)(b), Florida Statutes, means a finding 1blic entity crime, with or without an adjudiication of guilt, in any federal or state trial court :Jrought by indictment orinfonnation after July 1,1989, asa result of a jury verdict, nonjury lty or nolo contendere. e" as defin~d in Paragraph 287.133(1)(a), Flprida Statutes. means: sor of a person convicted of a public entity crime: or .rol of any natural person who is active in the management of the entity and who has been .rime. The term "affiliate" includes those officers, directors, executives, partners, share- rs, and agents who are active in the mana~ment of an affiliate. The ownership by one ~ a controlling interest in another person, Or a pooling of equipment or income among uket value under an ann's length agreeme~t, shall be a prima facie case that one person ~rson who knowingly enters into a joint ve~ture with a person who has been convicted of ja during the preceding 36 months shall beiconsidered an affiliate. lsdefined in Paragraph 287.133(1)(e), FI rida fa means any natural person or entity 'lny state or of the United States with the Ie al power to enter into a binding contract and :1 contracts for the provision of goods or se .ices let by a public entity, or which otherwise 3ct business with a public entity, The ten(n "person" includes those officers, directors, lders, employees, members, and agents whb are active in management of an entity, 8, Based on information and belief, the statement which I have marked below is true in relation to the entity submitting this sworn statement. [Please indicate which statement app lies.] x Neither the entity submitting this sworn statement, nor any officers, directors, executives, partners, share- holders, employees, members, or agents who are active in management of the entity, nor any affiliate of the entity have been charged with and convicted of a public entity crime subsequent to July 1, 1989. - The entity submitting this Sworn statement, or one or more of the officers, directors, executives, partners, shareholders, employees, members, or agents who are active in management of the entity, or an affiliate of the entity has been charged with and convicted of a public entity crime subsequent to July 1, 1989, AND [Please Indicate which additional statement applies.] - There has been a proceeding concerning the conviction before a hearing officer of the State of Florida, Division of Administrative Hearings. The final order enterec. by the hearing officer did not place the person or affiliate on the convicted vendor list. [Please attach a copy of the final order.] - The person or affiliate was placed on the convicted vehdor list. There has been a subsequent proceeding before a hearing officer of the State of F1orida, Division of Administrative Hearings. The final order entered by the hearing officer determined that it was in the public interest to remove the person or affiliate from the convicted vendor list. {Please attach a copy of the final order.] - The person or affiliate has not been placed on the convicted vendor list. [Please describe any action taken by or pending with the Department 01 General services~ ' ~E t/lr.~ / (signature! Date: June 8. 1993 STA TE OF ~.../)../ ~ COUNTY OF Jf)1 PERSONALLY APPEARED BEFORE ME, the undersigned authority, Lavon Wisher In.me of individual signing! who, after first being sworn by me, affixed his/her signature in the space provided above on this 8 dayof June 19~ $v CU, zthMz NOTARY PUBLIC My commission expires: ~:'.p..?v Pu.9 OFFICIAl.. NO, TAR, Y StoAL ~ ''SW' ~ LISA H CRONE +: .\t..8. ,.. COMMISSION NUMIJEP. ~ ~ '>r.i '" CC053182 ?:~ ~. ~f MY COMMISSION E}(P. Or- F\.O !'>lOV r. 19!V "".. .- I .. ~~l. '..... _--.! FnrTT\ PI m 7n;:;.R fRo" 11 IRO) SWORN STATEMENT UNDER ORDINANCE NO. 10-1990 MONROE COUNTY, FLORIDA ETHICS CLAUSE Lavan Wisher warrants that he/it has not employed, retained or otherwise had act on his/its behalf any former County officer or employee in violation of Section 2 of Ordinance No. 10-1990 or any County officer or employee in violation of Section 3 of Ordinance No. 10-1990. For breach or violation of this provision the County may, in its discretion, terminate this contract without liability and may also, in its discretion, deduct from the contract or purchase price, or otherwise recover, the full amount of any fee; commission; percentage; gift, or consideration paid to the f~rm~unty officer or employee. .~.Je !r~~'AA. / (signature) Date: June 8. 1993 STATE OF ~ib~ COUNTY OF ~ Subscribed and sworn to (or affirmed) before me on i]-I.-/7.1 ~ /191' $~ it ~/~ LJ: He/~is ~rsonallY (date) by (name of affiant). known to~ or has produced as identification. (type of identification) Jf)~ 0Jl ~1k!!r7U. NOTARY PUBLIC ;<..p...\tY PU,9 OFFiCIAL NOTARY Sl:AL ....o"J)~ r7."'~ LISA H CRONE <_! It ,. .: -, ~J! * COMM!SSION NUMBER ., ':'.:. ~~~ -.: CC053182 ~ ~~ ~~ ~f! MY COMMISSION EXP. ~ OF F\.O NOV. 5 19M ~..I".--a_----__.-..,.___..s:,.._~_ .