CM-2017-1597 - 12/29/2017TERM RENEWAL AGREEMENT NO. I
TO "CITY OF ROUND ROCK AGREEMENT FOR
PROFESSIONAL CONSULTING SERVICES WITH
AMERICAN MUNICIPAL TAX-EXEMPT COMPLIANCE"
CITY OF ROUND ROCK )
STATE OF TEXAS )
COUNTY OF WILLIAMSON )
COUNTY OF TRAVIS )
KNOW ALL BY THESE PRESENTS:
This Term Renewal Agreement No. I til "City of Round Rock Agreement for
Professional Consulting Services with American Municipa[ Tax -Exempt Compliance."
hereinafter called the "Renewal Agreement," is made by and between the City of Round Rock.
Texas. a Texas home -rule municipality. \%hose offices are located at 221 East Main Street.
Round Rock. Texas 78664-5299. hereinafter called "City." and American Municipal Tax -
Exempt Compliance (AMTEC), whose offices are located at 90 Avon Meadow Lane. Avon.
Connecticut 06001, hereinafter called "Consultant."
WHEREAS, City and Consultant previously executed the referenced "Agreement for
Professional Consulting Services with American Municipal Tax -Exempt Compliance." for
arbitrage calculation services. hereinafter called the "Agreement:" and
WHEREAS, pursuant to Section 1.01 of the Apreement. the initial term of the
Agreement 1Nas for thirty-six (36) months with t\�o (2) allo\\able successive tx\el%e (12) month
renewal periods from the effective date of the Agreement: and
WHEREAS, the initial term of the Agreement expires on January 9.2018: and
WHEREAS, the parties desire to extend the term of the Agreement for the first of two
(2) allowable consecutive twelve (12) month renewal terms: and
NOW THEREFORE, premises considered, and in consideration of the mutual promises
and obligations in the Agreement and this Renewal Agreement, the Cit} and Consultant agree as
follo�cs:
1.
Pursuant to Section 2.01(13) of the Agreement, the term of the Agreement is renewed for
the first allowable twelve (12) month renewal period. The t"elve (12) month renewal term shall
commence upon expiration of the initial term of the Agreement.
a�7^15-i 7
( 91 �2)ss2
II.
This Renewal Agreement embodies the first of two (2) allocable twelve (12) month
renewal periods and shall extend the original Agreement as to time only with no other changes in
terms or conditions of the original Agreement.
IN WITNESS WHEREOF, the City and Consultant have eseeuted this Renewal
Agreement to be effective as of the last date of due execution by both parties,
CITY OF ROUND ROCK, TEXAS ANIERICAN MUNICIPAL TAX-
By:
Printe
Title:
Date
ATTEST:
B,..
Sara L. White. Cite Clerk
FOR CITY, APPROVED AS TO FORM:
By: - -
Stepllan . Sheets. City Attorney
EXEMPT COMPLIANCE
Bv: &"^µ- a.
Printed Name: Raymond H. Bentley
Title: President _
Date Signed: December 5, 2017
City of Round Rock
IOUf+lD ROCK
XAS Agenda Item Summary
Agenda Number:
Title: Consider executing Term Renewal Agreement No. 1 with American
Municipal Tax -Exempt Compliance (AMTEC) for arbitrage calculation
services.
Type: City Manager item
Governing Body: City Manager Approval
Agenda Date: 12/29/2017
Dept Director: Susan Morgan, CFO
Cost: $8,500.00
Indexes: General Fund
Attachments: Exhibit A - Term Renewel Agreement No.
Department: Finance Department
Text of Legislative File CM -2017-1587
Consider executing Tenn Renewal Agreement No 1 with American Municipal Tax -Exempt Compliance
(AMTEC) for arbitrage calculation services
The City is required by IRS regulations to have an annual arbitrage calculation performed for all outstanding
bond issuances. This calculation is technical in nature and requ,res knowledge in this field. The City has
been using American Municipal Tax -Exempt Compliance (AMTEC) for the past three years and has been
very satisified with the level of service and pricing recieved by them. Staff recommends continuing the
professional relationship with AMTEC for an additional 1 -year term
Cost: $8,500
Funding Source: General Fund
Ciry of Round Rock Page 7 Printed on 12/28/2017