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Approve Appropriation Adjustment and Amend Agreement November 17, 2020 Page 2 Consulting Services agreement with Magellan Advisors LLC, established during the aforementioned City Council action, in order to develop a Request for Proposals (RFP) to evaluate options for the City to enter into public -private partnerships with wired and wireless internet service providers (Exhibit 1). The RFP will be designed to collect responses from multiple private parties interested in using the City's fiber, conduit, poles, and other broadband assets to deliver services to both residents and businesses in the community, expanding access to broadband and working with the City to develop a business model in which free or low-cost services are available for virtual education and telehealth. FISCAL IMPACT Approval of the requested appropriation adjustment will recognize $1,475,047 into the Capital Outlay, Miscellaneous Revenue, Prior Year Carry Forward revenue account (No. 05117002- 50001) and appropriate the same amount into the Capital Outlay, Streetlights, Improvements Other Than Building expenditure account (No. 05117620-66220). These funds are the remaining balance of the loan proceeds with the trustee from the financing agreement. Funds will be available for expenditure in Fiscal Year 2020-21 to continue work on this project. A portion of the approved appropriation will fund the requested increase to the Magellan Advisors LLC agreement of $36,685 as follows: Fiscal Year Accounting Unit Fund Accounting Unit - Amount Account No. Description Account No. Description FY 2020-21 05117620-66220 Capital Outlay Streetlights, Improvements $36,685 Other Than Building Total $36,685 Fiscal Impact Verified By: Kathryn Downs, CPA, Executive Director — Finance and Management Services Agency Submitted By: Nabil Saba, P.E., Executive Director — Public Works Agency Exhibit: 1. First Amendment to Agreement with Magellan Advisors LLC 20A-2