Title
Resolution relative to the approval of two agreements with Ehlers and Associates, Inc. for Arbitrage Consulting Services and Arbitrage Monitoring Services.
Body
WHEREAS, the City of West Allis issues debt every year; and,
WHEREAS, said debt issuances are sometimes structured in different ways; and,
WHEREAS, in most debt issuances there are investment restrictions that relate directly to interest costs being paid by the City; and,
WHEREAS, federal law is complicated in tracking the arbitrage yield restrictions and rebate requirements; and,
WHEREAS, it is necessary and in the best interest of the City to hire an expert consultant to perform the arbitrage consulting services and arbitrage monitoring services; and,
WHEREAS, Ehlers and Associates, Inc., the City's Financial Advisor, is capable of, interested in, and willing to perform said services at a reasonable and fair cost.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of West Allis that the two attached agreements between the City of West Allis and Ehlers and Associates, Inc. be and are hereby approved.
BE IT FURTHER RESOLVED by the Common Council of the City of West Allis that the proper City officials are hereby authorized and directed to execute said agreements on behalf of the City.
ADM\ORDRES\ADMR390