CM-2018-1927 - 10/26/2018TERM RENEWAL AGREEMENT NO.2
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. 2 to "City of Round Rock Agreement for
Professional Consulting Services with American Municipal Tax -Exempt Compliance,"
hereinafter called the "Renewal Agreement," is made by and between the City of Round Rock,
Texas, a Texas home -rule municipality, whose 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 arc located at 90 Avon Meadow Lane, Avon,
Connecticut 06001, hereinafter caped "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 Agreement, the initial term of the
Agreement was for thirty-six (36) months with two (2) allowable successive twelve (12) month
renewal periods from the effective date of the Agreement; and
WHEREAS, the Agreement was previously extended for the first of two (2) allowable
twelve (12) month renewal periods; and
WHEREAS, the parties desire to extend the term of the Agreement for the second 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 City and Consultant agree as
follows:
I.
Pursuant to Section 2.01(13) of the Agreement, the term of the Agreement is renewed for
the second and final allowable twelve (12) month renewal period. The twelve (12) month
renewal term shall commence upon expiration of the first renewal term of the Agreement.
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II.
This Renewal Agreement embodies the second and final of two (2) allowable 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 executed this Renewal
Agreement to be effective as of the last date of due execution by both parties.
CITY OF ROUND ROCK, TEXAS AMERICAN MUNICIPAL TAX-
EXEMPT COMPLIANCE
ATTEST:
By:
Sara L. White, City Clerk
FOR CITY APPROVED AS TO FORM:
By:
*teplSls, City Attorney
By: 44 . &*
Printed Name: Raymond H. Bentley'
Title: President
Date Signed; October 15.201$
City of Round Rock
11ROUND
ROCK
XAS Agenda Item Summary
Agenda Number:
Title: Consider executing Term Renewal Agreement No. 2 for Professional
Consulting Services with American Municipal Tax -Exempt Compliance
(AMTEC).
Type: City Manager Item
Governing Body: City Manager Approval
Agenda Date: 10/26/2018
Dept Director: Susan Morgan, CFO
Cost:
Indexes:
Attachments: Arbitrage Agreement
Department: Finance Department
Text of Legislative File CM -2018-1927
Consider executing Term Renewal Agreement No. 2 for Professional Consulting Services with
American Municipal Tax -Exempt Compliance (AMTEC).
The City is required to have an annual arbitrage calculation performed for all outstanding bond
issuances. This calculation is technical in nature and requires knowledge in this field. The City
has been using AMTEC for the past four years and has been very satisfied with the level of
service and pricing received by them. Staff recommends continuing this professional
relationship with AMTEC for an additional 1 -year term.
City of Round Rock Page 1 Printed on 10/25/2018