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INSURANCE NOT ON FILE WORK MAY tM PROCEED CLERK OF COUNCIL DATE: A-2020-148 AGREEMENT WITH URBAN FUTURES, INC. TO PROVIDE FINANCIAL ADVISORY AND DISSEMINATION AGENT SERVICES THIS AGREEMENT is made and entered into this 7" day of July, 2020, by and between Urban FutinY'ts hc., a California corporation ("Consultant"), and the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California ("City"). RECITALS A. The City desires to retain a consultant having special skill and knowledge in the field of municipal financial services. B. Consultant represents that Consultant is able and willing to provide such services to the City. C. In undertaking the performance of this Agreement, Consultant represents that it is knowledgeable in its field and that any services performed by Consultant under this Agreement will be performed in compliance with such standards as may reasonably be expected from a professional consulting firm in the field. NOW THEREFORE, in consideration of the mutual andrespective promises, and subject to the terms and conditions hereinafter set forth, the parties agree as follows; 1. SCOPE OF SERVICES Consultant shall perform during the term of this Agreement, the tasks and obligations including all labor, materials, tools, equipment, and incidental customary work required to fully and adequately complete the services described and set forth in its Proposal dated March 12, 2020, (Exhibit A), attached hereto and incorporated by reference. Specifically, Consultant will act as financial advisor to the City, evaluating the financial impact of projects that materially affect the city's economic future, including the feasibility in issuing a pension obligation bonds, refunding existing debt to achieve debt service savings and providing investors along with regulatory agencies true, current and accurate financial information of the City, Consultant will also act as the financial advisor for the City when issuing of debt, and will also take part in performing due diligence, by conducting an RFP process, recommending the team of investment professionals (attorneys, underwriter, fiscal agent, consultants) who will assist the City with the process in issuing debt. 2. COMPENSATION a. City agrees to pay, and Consultant agrees to accept as total payment for its services, the rates and charges identified in Exhibit A. The annual sum to be expended under this Agreement shall not exceed $31,000.00 per year, and the total sum expended shall not to exceed $ 15$,000,00 during the entire term of this Agreement (including optional renewals). 25F-7 Page 1 of 8