HomeMy WebLinkAboutFI09-069 - Amendment - #1 - AMTEC - City's Tax-Exempt Bonds/Notes Arbitrage Consulting - 11/15/2013 WoM101
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CONTRACT COVER SHEET
This is to be completed by the Contract Manager prior to submission
to City Clerks Office. All portions are to be completed.
If you have questions, please contact City Clerk's Office.
Vendor Name: American Municipal Tax-Exempt Compliance Corporation, dba AMTEC
Vendor Number: 223823
JD Edwards Number
Contract Number: , F-f, Q9' o09
This is assigned by City Clerk's Office
Project Name: Arbitrage compliance consultants
Description: ❑ Interlocal Agreement ❑ Change Order ❑ Amendment ® Contract
❑ Other:
Contract Effective Date: 1/1/2014 Termination Date: 12/31/2018
Contract Renewal Notice (Days): 30
Number of days required notice for termination or renewal or amendment
Contract Manager: Paula Barry Department: Finance
Detail: (i.e. address, location, parcel number, tax id, etc.):
AMTEC performs all tasks required of the City per section 148(f) of the Internal Revenue
Code regarding the City's tax exempt bonds and notes.
The original agreement expires on December 31, 2013. This change order (#1) extends
the expiration date to December 31, 2018 pursuant to the City's option to exercise the
first of two (2) additional five (5) year terms and increases the maximum amount of the
contract from $23,400 to $46,800 to cover the extended contract years. This change
order does not change any other terms or conditions of the contract.
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KENT
AMENDMENT NO. 1
NAME OF CONSULTANT OR VENDOR: American Municipal Tax-Exempt Comoliance
Corporation, dba AMTEC
CONTRACT NAME & PROJECT NUMBER: Arbitrage Consulting Services
ORIGINAL AGREEMENT DATE: , May 12, 2009
This Amendment is made between the City and the above-referenced Consultant or
Vendor and amends the original Agreement and all prior Amendments. All other provisions of
the original Agreement or prior Amendments not inconsistent with this Amendment shall remain
in full force and effect. For valuable consideration and by mutual consent of the parties,
Consultant or Vendor's work is modified as follows:
1. The contract amount and time for performance provisions of Section II "Time of
Completion," and Section III, "Compensation," are modified as follows:
The original agreement which expires on December 31, 2013 is
hereby extended to December 31, 2018 pursuant to the City's
option to exercise the first of two (2) additional five (5) year
terms and the total maximum amount of the contract is
increased from $23,400 to $46,800 to cover the additional
years of work.
Original Contract Sum, $23,400
including applicable WSST
Net Change by Previous Amendments $0
including applicable WSST
Current Contract Amount $23,400
including all previous amendments
Current Amendment Sum $23,400
Applicable WSST Tax on this $0
Amendment
Revised Contract Sum $46,800
Original Time for Completion December 31, 2013
(insert date)
Revised Time for Completion under N/A
prior Amendments
(insert date)
Add'I Time Required (t) for this Five calendar years
Amendment
Revised Time for Completion December 31, 2018
(insert date)
AMENDMENT - 1OF2
The Consultant or Vendor accepts all requirements of this Amendment by signing below,
by its signature waives any protest or claim it may have regarding this Amendment, and
acknowledges and accepts that this Amendment constitutes full payment and final settlement of
all claims of any kind or nature arising from or connected with any work either covered or
affected by this Amendment, including, without limitation, claims related to contract time,
contract acceleration, onsite or home office overhead, or lost profits. This Amendment, unless
otherwise provided, does not relieve the Consultant or Vendor from strict compliance with the
guarantee and warranty provisions of the original Agreement.
All acts consistent with the authority of the Agreement, previous Amendments (if any),
and this Amendment, prior to the effective date of this Amendment, are hereby ratified and
affirmed, and the terms of the Agreement, previous Amendments (if any), and this Amendment
shall be deemed to have applied.
The parties whose names appear below swear under penalty of perjury that they are
authorized to enter into this Amendment, which is binding on the parties of this contract.
IN WITNESS, the parties below have executed this Amendment, which will
become effective on the last date written below.
CONSULTANT/VENDOR: CITY OF KENT: fl
(signature) t i yi (signature)
Print Name: Print N : Suzette Cooke
Its t, � D,tss Mavor
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DATE: lblfflr , DATE: .fr .42 Z —
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APPROVED AS TO FORM:
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Kent Law Department
pn mw field,you may enter the electranlc fllepath where the contract has been sever]
AMENDMENT - 2 OF 2
REQUEST FOR MAYOR'S SIGNATURE
KENT Please Fill in All Applicable Boxes
NA5MIN4TVN
Routing Information (ALL REQUESTS MUST FIRST BE ROUTED THROUGH THE LAW DEPARTMENT)
Originator: Dan Leahy Phone (Originator): 5266
Date Sent: 11/4/13 Date Required: 11/29/13
Return Signed Document to: Dan Leahy CONTRACT TERMINATION DATE: 12/31/18
VENDOR NAME: American Municipal DATE OF COUNCIL APPROVAL: 5/5/09
Tax-Exempt Compliance Corporation
Brief Explanation of Document:
AMTEC performs all tasks required of the City per section 148(f) of the Internal Revenue Code
regarding the City's tax exempt bonds and notes.
The original agreement expires on December 31, 2013. This change order (#1) extends the
expiration date to December 31, 2018 pursuant to the City's option to exercise the first of two
(2) additional five (5) year terms and increases the maximum amount of the contract from
$23,400 to $46,800 to cover the extended contract years. This change order does not change
any other terms or conditions of the contract.
During the initial RFP process in 2009, AMTEC's rates were 52% less that the average of the
other four firms responding to the RFP.
RECEIVED
NOV 0 5 2013
KENT LAW DEPT. "ECEIVED
NOV 0 5 2013
AI/Contracts Must Be Routed Through The Law Depa City of Kent
rt( Of the Mayor
(This area to be completed by the Law Depart
Received: RECEIVED
Approval of Law Dept.:
Law Dept. Comments: NOV 5 2013
Date Forwarded to Mayor: " CftYCLERK