HomeMy WebLinkAboutArbitrage Compliance Specialists, Inc. - 2010-11-17AMENDMENT NO. I TO AGREEMENT BETWEEN THE
CITY OF HUNTINGTON BEACH AND ARBITRAGE COMPLIANCE
SPECIALISTS, INC. FOR ARBITRAGE REBATE COMPLIANCE SERVICES
THIS AMENDMENT is made and entered into by and between the City of
Huntington Beach, a California municipal corporation, hereinafter referred to as "City"
and Arbitrage Compliance Specialists, Inc., a corporation, hereinafter referred to as
"Consultant,"
WHEREAS, City and Consultant are parties to that certain agreement dated
November 17, 20 10, entitled "Professional Services Contract Between the City of
Huntington Beach and Arbitrage Compliance Specialists, Inc, for Arbitrage Rebate
Compliance Services," which agreement shall hereinafter be referred to as the "Original
Agreement," and
City and Consultant wish to amend the Original Agreement to reflect additional
work to be performed by Consultant and additional compensation to be paid in
consideration thereof by City to Consultant, and
NOW, THEREFORE, it is agreed by City and Consultant as follows:
I . ADDITIONAL WORK
Consultant shall provide to City such additional services as required by
City, including arbitrage rebate compliance on bond issues.
2. ADDITIONAL COMPENSATION
In consideration of the additional services to be performed hereunder as
described in Section 1 above, City agrees to pay Consultant, and Consultant agrees to
accept from City as full payment for services rendered, an additional sum not to exceed
Five Thousand Dollars ($5,000.00).
3. TERM
The services of Consultant are to cornmence on November 17, 2013 and
shall automatically terminate on November 17, 2014, unless extended or sooner
terminated.
13-4005/102552
4. REAFFIRIVIATION
Except as specifically modified herein, all other terms and conditions of
the Original Agreement shall remain. in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by and through their authorized officers.
CONSULTANT,
ARBITRAGE COMPLIANCE
SPECIALISTS, INC.
By:
print name
ITS: (eircle one) Cbairrnan/Presideny��
CITY OF HUNTINGTON BEACH,
a municipal corporation of the State of Californiia
AL.,
Finance��ectKr V
(Pursuant to HBMC §3.03. 100)
By: APPROVED AS TO FORM:
print name
ITS: (ch-cle one) Secretary/Chief Financial
N
. ' i �L-
Officer/Asst. Secretary - Treasurer
i Att=4 voo I
Date:
13-4005/102552
W,
CITY OF HUNTINGTON BEACH
Professional Service Approval Form,
.0
Amendment # I
1. Date Requested: 10-16-2013
2. Contract Number to be Amended: FIN 010 057 00
3. Department: Finance
4. Requested By: Dahle Bulosan
5. Name of Consultant: Arbitrage Compliance Specialists, Inc.
6. Amount of Original/Prior Contract: $15,000
7. Additional Compensation Requested,15-,000—I
8. Original Commencement Date: 11-17-2010
9. Original Termination Date: 11-17-2013
10. Extended Date Requested,:-_11-
. _71_7=-201-47]
11. Reason for Contract Amendment:
Continu:at�ion �od :;��for one-year per HBMC 3.03.120
Purchasing(Xp'proval Signat"
10-17-13
Date
12. Are sufficient funds available to fund this contract? Yes El No El
13. Business Unit and Object Code where funds are budgeted:
.Account Number
Dollar Amount
35080202.88150 vl
$500M
35080203.88150 /
$500.00
40140105.881-5&c>-TC>
$500.00
40540105.884-5& 1(op
$500.00
40640101.88150
$500.00
40840101.88,150
$500.00
4104010$.88150
$500.00
70740101.88150
$500.00
Budget Approval Signature Date
-7 Z/2,
Sign
Depa ture Dite
7 AAd) 101 z1t
Cit��Manager Approval Signature bate
RECEIVED
,,OCT 212013
Name of Contractor: Arbitrage Compliance Specialties, Inc.
Purpose of Contract: For Example: Audit Services or Water Quality Testing Huntington Lake — Huntington Central Park
Arbitrage Rebate Compliance Services
Amount of Contract: $15,000.00
Copy of contract distributed to: The original insurance certificate/waiver distributed
Initiating Dept. n to Risk Management F]
Finance Dept. F] ORIGINAL bonds sent to Treasurer F�
Date:
N1 �a nn ec/ 6EExt e n s i VoAO
City Attorney's Office
f/-/7 - J-�010
X: -7 - dO
G:AttyMisc/Contract Forms/City Clerk Transmittal
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PROFESSIONAL SERVICES CONTRACT BETWEEN
THE CITY OF HUNTINGTON BEACH AND
ARBITRAGE COMPLIANCE SPECIALISTS, INC.
FOR
ARBITRAGE REBATE COMPLIANCE SERVICES
Table of Contents
Scopeof Services .....................................................................................................
I
CityStaff Assistance ................................................................................................
2
Term; Time of Performance .....................................................................................
2
Compensation..........................................................................................................
2
ExtraWork ...............................................................................................................
2
Methodof Payment ..................................................................................................
3
Disposition of Plans, Estimates'and Other Documents ...........................................
3
HoldHarmless .........................................................................................................
3
Professional Liability Insurance ..................... .........................................................
4
Certificate of Insurance ............................................................................................
5
IndependentContractor ............................................................................................
6
Termination of Agreement .......................................................................................
6
Assignmentand Delegation ............................................................. ......................... 6
Copyrights/Patents ...................................................................................................
7
City Employees and Officials ..................................................................................
7
Notices.........................................................................................
7
Consent.................................................................................................................... 8
Modification............................................................................................................ �8
SectionHeadings ..................................................................................................... 8
Interpretation of this Agreement .............................................................................. 8
DuplicateOriginal ....................................................................................................
9
Immigration................................................................................................................
9
Legal Services Subcontracting Prohibited ..................................................................
9
Attorney's Fees ..........................................................................................................
10
Survival.....................................................................................................................
10
GoverningLaw .........................................................................................................
10
Signatories.................................................................................................................
10
Entirety......................................................................................................................
10
EffectiveDate .................................................................................
I I
PROFESSIONAL SERVICES CONTRACT BETWEEN
THE CITY OF HUNTINGTON BEACH AND
ARBITRAGE COMPLIANCE SPECIALISTS, INC.
FOR
ARBITRAGE REBATE COMPLIANCE SERVICES
THIS AGREEMENT ("Agreement") is made and entered into by and between the City of
Huntington Beach, a Municipal corporation of the State of California, hereinafter referred to as
Arbitrage Compliance
"CITY, and Specialists, Inc. a Corporation hereinafter referred
to as "CONSULTANT.!'
WHEREAS, CITY desires to engage the services of a consultant to
provide arbitrage rebate compliance services ;and
Pursuant to documentation on file in the office of the City Clerk, the provisions of the
Huntington Beach Municipal Code, Chapter 3.03, relating to procurement of professional service
contracts have been complied with; and ,
CONSULTANT has been selected to perform these services,
NOW, THEREFORE, it is agreed by CITY and CONSULTANT as follows:
1. SCOPE OF SERVICES
CONSULTANT shall provide all services as described in Exhibit "A," which is
attached hereto and incorporated into this Agreement by this reference. These services shall
sometimes hereinafter be referred to as the "PROJECT."
CONSULTANT hereby designates
Doug Pahnke who shall
represent it and be its sole contact and agent in all consultations with CITY during the
performance of this Agreement.
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2. CITY STAFF ASSISTANCE
CITY shall assign a staff coordinator to work directly with CONSULTANT in the
performance of this Agreement.
3. TERM; TIME OF PERFORMANCE
Time is of the essence of this Agreement. The services of CONSULTANT are to
commence on 20[_a__ (the "Commencement Date"). This Agreement
shall automatically terminate three (3) years from the' Commencement Date, unless extended or
sooner terminated as provided herein. All tasks specified in Exhibit "A" shall be completed no
later than 3 years
from the Commencement Date. The time for performance
of the tasks identified in Exhibit "A" are generally to be shown in Exhibit "A." This schedule
may be amended to benefit the PROJECT if mutually agreed to in writing by CITY and
CONSULTANT.
In the event the Commencement Date precedes the Effective Date,
CONSULTANT shall be bound by all terms and conditions as provided herein.
4. COMPENSATION
In consideration of the performance of the services described herein, CITY agrees
to pay CONSULTANT on a time and materials basis at the rates specified in Exhibit "B,"
which is attached hereto and incorporated by reference into this Agreement, a fee, including all
costs and expenses, not to exceed Fifteen Thousand Dollars
($ 15 , 0 0 0 . 0 0
5. EXTRA WORK
In the event CITY requires additional services not included in Exhibit "A" or
changes in the scope of services described in Exhibit "A," CONSULTANT will undertake such
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work only after receiving written authorization from CITY. Additional compensation for such
extra work shall be allowed only if the prior written approval of CITY is obtained.
6. METHOD OF PAYMENT
CONSULTANT shall be paid pursuant to the terms of Exhibit "B."
7. DISPOSITION OF PLANS, ESTIMATES AND OTHER DOCUMENTS
CONSULTANT agrees that title to all materials prepared hereunder, including,
without limitation, all original drawings, designs, reports, both field and office notices,
calculations, computer code, language, data or programs, maps, memoranda, letters and other
documents, shall belong to CITY, and CONSULTANT shall turn these materials over to CITY
upon expiration or termination of this Agreement or upon PROJECT completion, whichever
I
shall occur first. These materials may be used by CITY as it sees fit.
8. HOLD HARMLESS
CONSULTANT hereby agrees to protect, defend, indemnify and hold harmless
CITY, its officers, elected or appointed officials, employees, agents and volunteers from and
against any and all claims, damages, losses, expenses, judgments, demands and defense costs
(including, without limitation, costs and fees of litigation of every nature or liability of any kind
or nature) arising out of or in connection with CONSULTANT's (or CONSULTANT's
subcontractors, if any) negligent (or alleged negligent) performance of this Agreement or its
failure to comply with any of its obligations contained in this Agreement by CONSULTANT, its
officers, agents or employees except such loss or damage which was caused by the sole
negligence or willful misconduct of CITY. CONSULTANT will conduct all defense at its sole
cost and expense and CITY shall approve selection of CONSULTANT's counsel. This
indemnity shall apply to all claims and liability regardless of whether any insurance policies are
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applicable. The policy limits do not act as limitation upon the amount of indemnification to be
provided by CONSULTANT.
9. PROFESSIONAL LIABILITY INSURANCE
CONSULTANT shall obtain and furnish to CITY a professional liability
insurance policy covering the work performed by it hereunder. This policy shall provide
coverage for CONSULTANT's professional liability in an amount not less than One Million
Dollars ($1,000,000.00) per occurrence and in the aggregate. The above -mentioned insurance
shall not contain a self -insured retention without the express written consent of CITY; however
an insurance policy "deductible" of Ten Thousand Dollars ($10,000.00) or less is permitted. A
claims -made policy shall be acceptable if the policy further provides that:
A. The policy retroactive date coincides with or precedes the initiation of the
scope of work (including subsequent policies purchased as renewals or
replacements).
B. CONSULTANT shall notify CITY of circumstances or incidents that
might give rise to future claims.
CONSULTANT will make every effort to maintain similar insurance during the
required extended period of coverage following PROJECT completion. If insurance is
terminated for any reason, CONSULTANT agrees to purchase an extended reporting provision
of at least two (2) years to report claims arising from work performed in connection with this
Agreement.
If CONSULTANT fails or refuses to produce or maintain the insurance required
by this section or fails or refuses to furnish the CITY with required proof that insurance has been
procured and is in force and paid for, the CITY shall have the right, at the CITY's election, to
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I
forthwith terminate this Agreement. Such termination shall not affect Consultant's right to be
paid for its time and materials expended prior to notification of termination. CONSULTANT
waives the right to receive compensation and agrees to indemnify the CITY for any work
performed prior to approval of insurance by the CITY.
10. CERTIFICATE OF INSURANCE
Prior to commencingperformance of the work hereunder, CONSULTANT shall
furnish to CITY a certificate of insurance subject to approval of the City Attorney evidencing the
foregoing insurance coverage as required by this Agreement; the certificate shall:
A. provide the name and policy number of each carrier and policy;
B. state that the policy is currently in force; and
C. shall promise that such policy shall not be suspended, voided or canceled
by either party, reduced in coverage or in limits except after thirty (30)
days' prior written notice; however, ten (10) days' prior written notice in
the event of cancellation for nonpayment of premium.
CONSULTANT shall maintain the foregoing insurance coverage in force until the
work under this Agreement is fully completed and accepted by CITY.
The requirement for carrying the foregoing insurance coverage shall not derogate
from CONSULTANT's defense, hold harmless and indemnification obligations as set forth in
this Agreement. CITY or its representative shall at all times have the right to demand the
original or a copy of the policy of insurance. CONSULTANT shal I pay, in a prompt and timely
manner, the premiums on the insurance hereinabove required.
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11. INDEPENDENT CONTRACTOR
CONSULTANT is, and shall be, acting at all times in the performance of this
Agreement as an independent contractor herein and not as an employee of CITY.
CONSULTANT shall secure at its own cost and expense, and be responsible for any and all
payment of all taxes, social security, state disability insurance compensation, unemployment
compensation and other payroll deductions for CONSULTANT and its oficers, agents and
employees and all business licenses, if any, in connection with the PROJECT and/or the services
to be performed hereunder.
12. TERMINATION OF AGREEMENT
All work required hereunder shall be performed in a good and workmanlike
manner. CITY may terminate CONSULTANT's services hereunder at any time with or without
cause, and whether or not the PROJECT is fully complete. Any termination of this Agreement
by CITY shall be made in writing, notice of which shall be delivered to CONSULTANT as
provided herein. In the event of termination, all finished and unfinished documents, exhibits,
report, and evidence shall, at the option of CITY, become its property and shall be promptly
delivered to it by CONSULTANT.
13. ASSIGNMENT AND DELEGATION
This Agreement is a personal service contract and the work hereunder shall not be
assigned, delegated or subcontracted by CONSULTANT to any other person or entity without
the prior express written consent of CITY. If an assignment, delegation or subcontract is
approved, all approved assignees, delegates and subconsultants must satisfy the insurance
requirements as set forth in Sections 9 and 10 hereinabove.
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14. COPYRIGHTS/PATENTS
CITY shall own all rights to any patent or copyright on any work, item or material
produced as a result of this Agreement.
15. CITY EMPLOYEES AND OFFICIALS
CONSULTANT shall employ no CITY official nor any regular CITY employee
in the work performed pursuant to this Agreement. No officer or employee of CITY shall have
any financial interest in this Agreement in violation of the applicable provisions of the California
Government Code.
16. NOTICES
Any notices, certificates, or other communications hereunder shall be given either
by personal delivery to CONSULTANT's agent (as designated in Section I hereinabove) or to
CITY as the situation shall warrant, or by enclosing the same in a sealed envelope, postage
prepaid, and depositing the same in the United States Postal Service, to the addresses specified
below. CITY and CONSULTANT may designate different addresses to which subsequent
notices, certificates or other communications will be sent by notifying the other party via
personal delivery, a reputable overnight carrier or U. S. certified mail -return receipt requested:
TO CITY:
City of Huntington Beach
ATTN: Jim Slcbojan
2000 Main Street
Huntington Beach, CA 92648
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TO CONSULTANT:
Arbitrage Compliance Specialists, Inc.
Doug P
5975 South Quebec Street, Suite 205
Englewood, CO 80111-4566
17. CONSENT
When CITY's consent/approval is required under this Agreement, its
consent/approval for one transaction or event shall not be deemed to be a consent/approval to
any subsequent occurrence of the same or any other transaction or event.
18. MODIFICATION
No waiver or modification of any language in this Agreement shall be valid
unless in writing and duly executed by both parties.
19. SECTION HEADINGS
The titles, captions, section, paragraph and subject headings, and descriptive
phrases at the beginning of the various sections in this Agreement are merely descriptive and are
included solely for convenience of reference only and are not representative of matters included
or excluded from such provisions, and do not interpret, define, limit or describe, or construe the
intent of the parties or affect the construction or interpretation of any provision of this
Agreement.
20. INTERPRETATION OF THIS AGREEMENT
The language of all parts of this Agreement shall in all cases be construed as a
whole, according to its fair meaning, and not strictly for or against any of the parties. If any
provision of this Agreement is held by an arbitrator or court of competent jurisdiction to be
unenforceable, void, illegal or invalid, such holding shall not invalidate or affect the remaining
covenants and provisions of this Agreement. No covenant or provision shall be deemed
dependent upon any other unless so expressly provided here. As used in this Agreement, the
masculine or neuter gender and singular or plural number shall be deemed to include the other
whenever the context so indicates or, requires. Nothing contained herein shall be construed so as
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to require the commission of any act contrary to law, and wherever there is any conflict between
any provision contained herein and any present or future statute, law, ordinance or regulation
contrary to which the parties have no right to contract, then the latter shall prevail, and the
provision of this Agreement which is hereby affected shall be curtailed and limited only to the
extent necessary to bring it within the requirements of the law.
21. DUPLICATE ORIGINAL
The original of this Agreement and one or more copies hereto have been prepared
and signed in counterparts as duplicate originals, each of which so executed shall, irrespective of
the date of its execution and delivery, be deemed an original. Each duplicate original shall be
deemed an original instrument as against any party who has signed it.
22. IMMIGRATION
CONSULTANT shall be responsible for full compliance with the immigration
and naturalization laws of the United States and shall, in particular, comply with the provisions
of the United States Code regarding employment verification.
23. LEGAL SERVICES SUBCONTRACTING PROHIBITED
CONSULTANT and CITY agree that CITY is not liable for payment of any
subcontractor work involving legal services, and that such legal services are expressly outside
the scope of services contemplated hereunder. CONSULTANT understands that pursuant to
Huntington Beach City Charter Section 309, the City Attorney is the exclusive legal counsel for
CITY; and CITY shall not be liable for payment of any legal services expenses incurred by
CONSULTANT.
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24. ATTORNEY'S FEES
In the event suit is brought by either party to construe, interpret and/or enforce the
terms and/or provisions of this Agreement or to secure the performance hereof, each party shall
bear its own attorney's fees, such that the prevailing party shall not be entitled to recover its
attorney's fees from the nonprevailing party.
25. SURVIVAL
Terms and conditions of this Agreement, which by their sense and context survive
the expiration or termination of this Agreement, shall so survive.
26. GOVERNING LAW
This Agreement shall be governed and construed in accordance with the laws of
the State of California.
27. SIGNATORIES
Each undersigned represents and warrants that its signature hereinbelow has the
power, authority and right to bind their respective parties to each of the terms of this Agreement,
and shall indemnify CITY fully for any injuries or damages to CITY in the event that such
authority or power is not, in fact, held by the signatory or is withdrawn.
CONSULTANT's initials
28. ENTIRETY
The parties acknowledge and agree that they are entering into this Agreement
freely and voluntarily following extensive arm's length negotiation, and that each has had the
opportunity to consult with legal counsel prior to executing this Agreement. The parties also
acknowledge and agree that no representations, inducements, promises, agreements or
warranties, oral or otherwise, have been made by that party or anyone acting on that party's
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behalf, which are not embodied in this Agreement, and that that party has not executed this
Agreement in reliance on any representation, inducement, promise, agreement, warranty, fact or
circumstance not expressly set forth in this Agreement. This Agreement, and the attached
exhibits, contain the entire agreement between the parties respecting the subject matter of this
Agreement, and supersede all prior understandings and agreements whether oral or in writing
between the parties respecting the subject matter hereof.
29. EFFECTIVE DATE
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by and through their authorized officers. This Agreement shall be effective on the date
of its approval by the City Attorney. This Agreement shall expire when terminated as provided
herein.
CONSULTANT,
print name
ITS: (circle one) Chairm"'JEDVice President
ND
print name
ITS: (circ��Se�cretary/Chief Financial Officer/Asst.
Secretary Q!!:L)
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CITY OF HUNTINGTON BEACH,
a municipal corporation of the State of
California
A/ C r-- Director/�'�
(Pursuant To HBMC §3.03. 100)
APPROVED AS TO FORM:
Uny Attorney
Date
EXHIBIT "A"
A. STATEMENT OF WORK: (Narrative of work to be performed)
Arbitrage Compliance Specialists, Inc. (ACS) will provide the City with Arbitrage Rebate
Compliance Services including the required arbitrage rebate, yield restriction/yield reduction,
and spending exception calculations for,the City's tax-exempt debt issues in compliance
with the Tax Code.
B. CONSULTANT'S DUTIES AND RESPONSIBILITIES:
ACS performs pre -calculation work on all rebate computations, ensuring that the relevant
regulatory and technical expertise necessary to identify, the lowest, legally permissible
arbitrage rebate liability is applied. Details on the completion of tasks and task milestones
are represented below:
1 . Verification of issues that are subject to arbitrage rebate
ACS' in-house tax attorney will analyze each bond structure to determine which bonds
are subject to rebate, yield restriction, and applicable exceptions. ACS will issue a legal
opinion to the City stating our findings. ACS will then determine IRS filing deadlines,
extensions, and election requirements and enter this information into our database
tracking system to ensure timely reporting.
2. Calculate the bond yield
Since the entire arbitrage rebate process relies on an accurate bond yield, ACS will
compute the bond yield on each and every bond issuance to ensure accuracy. ACS
does not take shortcuts and only rely on the bond yields provided by Underwriters and/or
Financial Advisors.
3. Identify and separately account for all Gross Proceeds
ACS will complete each arbitrage calculation with the same diligence to not only
compute the lowest permissible arbitrage liability but to also include all funds required by
the Tax Code. The ACS accountant will reconcile the investment detail to each debt
issue's source/use statement to ensure all gross proceeds have been accounted. ACS
always includes all funds that are subject to rebate in our calculations including: Cost of
Issuance Funds, Project Funds, Escrow Funds, Transferred Proceeds, Capitalized
Interest Funds, Reserve Funds and overfunded Debt Service Funds.
4. Compute the amount of excess earnings
Data is entered into our rebate calculation software and the rebate, yield restriction/yield
reduction and/or spending exception/penalty calculations are performed. Throughout the
data entry phase, the ACS accountant confers with our tax attorney concerning any
unusual circumstances surrounding the data. Compliance with the Tax Code is essential
to the calculations and services ACS performs for our clients. Each calculation will be
performed on ACS' proprietary arbitrage rebate software.
Provide a written report with executive summary
A detailed written report will be provided for each debt issue. Each report and related
supporting documentation will be subject to examination by ACS' tax attorney for final
technical review to ensure most favorable treatment of the Tax Code. ACS' reports
include an executive summary, investment information as well as recommendations as
outlined below:
Executive Summary:
• CPA Certified and Legal Professional opinion that the calculations were
completed in accordance with the Tax Code and may be relied upon by the City
in determining the liability payments to the United States Treasury.
• Investment Yield — the overall cumulative yield for all investments.
• Arbitrage Rebate Liability
* 100% arbitrage rebate liability
* 90% arbitrage rebate liability — the Tax Code requires that at least 90% of
the liability be paid upon reaching a filing date.
• Bond Yield — To ensure accuracy in our reports, ACS will recalculate the bond
yield since the entire arbitrage rebate is calculation is based on the bond yield.
Investment Information:
• Investment yield is calculated for each investment to assist in evaluating if each
investment was attributing to a positive arbitrage rebate liability or negative
arbitrage rebate liability.
• Rate of return information will identify which investments are underperforming
and may be exchanged for higher yielding investments to maximize the overall
rate of return on the investment portfolio.
• Rate of return is also calculated for all investments in aggregate.
Recommendations:
• Future filing due dates
• Accounting method modifications — ACS will provide recommendations on
alternative accounting methods that may be employed to reduce the arbitrage
rebate liability.
• Liability Reserves — amount of funds to be reserved for upcoming arbitrage filings
o ACS will analyze the current fund balances, investment yields, yield
trends, and future value factors and provide recommendations on
whether to submit 100% of the arbitrage rebate or 90% of the liability.
• Spending Exception Elections
• Yield Restriction Limits
6. Record Retention
ACS will retain all records received by the City for the life of the bond plus six years.
7. Legal Opinion
Each report will include a CPA certified and legal professional opinion completed and
signed by our tax attorney. The opinion will include a statement that the calculation
methodology used is consistent with current tax laws and regulations and may be relied
upon by the City in determining the payment to the United States Treasury.
Unlike our competitors who clearly depend upon outside legal counsel or affiliations with
off -site legal firms who may be hundreds of miles away from the accounting team
completing the calculations, the ACS legal counsel is housed with the rest of the
arbitrage rebate staff and is assessing and addressing the individual needs of our clients
on a daily basis.
8. Distribution of Reports
ACS will distribute five copies of the report to the City as well as one copy to the Trustee.
9. Prepare Filings for the Arbitrage Payments or Refund Requests
The ACS accountant will prepare and distribute signature ready IRS Form 8038-T for
payment of arbitrage rebate or yield restriction. The forms will be accompanied by
detailed filing instructions.
10. Coordinate between Bond Trustees and the City
As a national provider of arbitrage rebate services, ACS currently works with Trustees
throughout the Country. ACS will contact the respective trustees directly and have the
investments statements sent to our firm for storage. Our statement storage program
alleviates the need for our clients to track down old statements, copy them and mail
them to our firm.
C. CITY'S DUTIES AND RESPONSIBILITIES:
1. Investment Data: The City can expect their involvement to be limited to providing the
contact name of the Bank Trustee. ACS will coordinate'directly with the Trustee to have
bank statements sent directly to our firm.
2. Bond Documents: ACS' on -site transition team will copy the bond documents for older
bonds with no assistance required from City personnel except to identify the location of
the documents. As bonds are issued in the future, ACS will coordinate directly with the
City's Bond Counsel to be placed on the automatic bond document distribution list.
D. WORK PROGRAM/PROJECT SCHEDULE:
During the transitional phase ACS will require copies of certain bond documents. If the
City is able to provide these documents, ACS will not require workspace or equipment.
Based upon our experience, however, ACS suggests that our transition team copy the
necessary documents from the City's facility. This process will be performed at no cost
to the City. ACS' transition team will require approximately 100 square feet of working
space and the use of a copier for approximately one day. Our team is very conscientious
and will not disrupt City personnel during the course of copying the necessary
documents.
Our calculations will incorporate the findings compiled by the City's previous calculations
in order to create a comprehensive arbitrage rebate report. Transition costs and other
hardships typically placed on the City will be eliminated.
ACS will complete the major contractual milestones according to the following transition
schedule:
On -Site Bond Document Collection: Day 12 from Contract Start Date
The ACS transition team will copy bond documents and arbitrage rebate reports. The
City's involvement will be limited to directing ACS staff to the location of the bond
transcript books.
Determine Bonds Subject to Arbitrage Rebate and Yield Restriction: Day 13 from
Contract Start Date
ACS' tax attorney analyzes bond documents and determines filing dates and special
elections. Bond information is loaded into our database tracking system to track future
filing dates.
60 Days Prior to Filing Date
ACS staff members are scheduled to complete
calculations.
Monthly
ACS will coordinate with the Bank Trustee to receive bank
statements monthly. Upon receipt ACS will review for
accuracy.
Within 25 Days of Filing Date
Spending Exception test(s) are performed and if the
test(s) fail ACS will proceed with arbitrage calculations.
Within 30 Days of Filing Date
Computation review process performed by ACS' tax
attorney
Within 35 Days of Filing Date
Distribution of the report to the City
On -Going
Report reviews;
On -site arbitrage rebate lowering strategies training;
On -site arbitrage rebate accounting rules training;
Pre -issuance bond document review for arbitrage rebate
elections;
Consult with the City's bond counsel, financial advisor,
trustee/paying agent, and any other related party
rea-ardina the arbitrage calculations and the Tax Code.
EXHIBIT "B"
Payment Schedule
1. Charges for time during travel are normally not reimbursable and will only be paid if such
time is actually used in performing services for CITY or as otherwise arranged with CITY.
2. CONSULTANT shall be entitled to a full payment toward the' fixed fee set forth herein in
accordance with the following:
CONSULTANT guarantees an annual fee per issue covering a three-year contract period
with an option to extend the contract for two additional years.
Annual Maximum Fee Per Issue: $500 per year until funds are fully spent; $0
thereafter
Description
Fees Per
Issue
Pre -Calculation and Post -Calculation Services
Team to Transfer Arbitrage Calculations to ACS
Included
On -Site Training of City Personnel
Included
Arbitrage Rebate Calculation Services:
Yield Restriction Analyses
Included
Commingled Fund Analyses
Included
Transferred Proceeds Analyses
Included
Variable Rate Issues
Included
Debt Service Reserve Funds
Included
Commingled Funds
Included
Legal Services:
IRS Audit Assistance
Included
Review of Pre -Issuance Bond Documents to Ensure Elections are
Correctly Applied to Reduce Future Arbitrage Rebate Liabilities
Included
Option
BondIssue*
FY 10/11
F Y 11/12
FY 12/13
FY 13/14
FY 14/15
1990-1 Community Facilities District
$500
$500
$500
$500
$500
1997 Public Financing Authority Certificate of
Participation (Redeemed 2010)
MR`?
I IM,
A!�,,
"eng-'s� -g
I'll,
W
&31
1999 Redevelopment Agency Tax Allocation
$500
$500
$500
$500
$500
2000A Public Financing Authority Lease
Revenue (Redeemed 2010)
&
2000-1 Community Facilities Distdct
$500
$500
$500
500
$500
2001A Public Financing Authority Lease
Revenue
$500
$500
$500
$500
$500
2001 B Public Financing Authority Lease
Revenue
$500
$500
$500
$500
$500
2002-1 Communii-y Facilities District
$500
$500
$5001
$500
2002 Redevelopment Tax Allocation
$500
$500
$500
$500
2003-1 Community Facilities District
$500
_$500
$500
$500
$500
$500
2004 Judgment Obligation
$500
$500
$500
$500
"1$500
$500
2010 Lease Revenue Refunding Series A
$500
$500
$500
$500
$500
Total
$5,000
$5,000
$5,000
$6,000
* The City's Bond Issues requiring Arbitrage Rebate Compliance Services may change from year to year.
Total fees shall not exceed Five Thousand ($5,000.00) per year. CONSULTANT agrees to
inform the City when CONSULTANT is at the point of reaching the maximum limit per year'.
CONSULTANT shall not continue with any work effort over the amount of the maximum limit
per year unless first authorized in writing by the City authorized representative(s).
3. Delivery of work product: A copy of every memorandum, letter, report, calculation and other
documentation prepared by CONSULTANT shall be submitted to CITY to demonstrate
progress toward completion of tasks. In the event CITY rejects or has comments on any
such product, CITY shall identify specific requirements for satisfactory completion.
4. CONSULTANT shall submit to CITY an invoice for each monthly progress payment due.
Such invoice shall:
A) Reference this Agreement;
B) Describe the services performed;
C) Show the total amount of the payment due;
D) Include a certification by a principal member of CONSULTANT's firm that the work has
been performed in accordance with the provisions of this Agreement; and
E) For all payments include an estimate of the percentage of work completed.
Upon submission of any such invoice, if CITY is satisfied that CONSULTANT is making
satisfactory progress toward completion of tasks in accordance with this Agreement, CITY
shall approve the invoice, in which event payment shall be made within thirty (30) days of
receipt of the invoice by CITY. Such approval shall not be unreasonably withheld. If CITY
does not approve an invoice, CITY shall notify CONSULTANT in writing of the reasons for
non -approval and the schedule of performance set forth in Exhibit "A" may at the option of
CITY be suspended until the parties agree that past performance by CONSULTANT is in, or
has been brought into compliance, or until this Agreement has expired or is terminated as
provided herein.
5. Any billings for extra work or additional services authorized in advance and in writing by
CITY shall be invoiced separately to CITY. Such invoice shall contain all of the information
required above, and in addition shall list the hours expended and hourly rate charged for
such time. Such invoices shall be approved by CITY if the work performed is in accordance
with the extra work or additional services requested, and if CITY is satisfied that the
statement of hours worked and costs incurred is accurate. Such approval shall not be
unreasonably withheld. Any dispute between the parties concerning payment of such an
invoice shall be treated as separate and apart from the ongoing performance of the
remainder of this Agreement.
CITY OF HUNTINGTON BEACH INSURANCE REQUIREMENTS
Minimum, Insurance Requirements
Vendor Type
Additional
Automobile
Professional
Ptopgrty
Insured
Liability
General Liability
Liability
Insurance
Workers'Comp
'Endorsements
Huntington Beach City Council Resolution No. 2008-63 requires submittal of certificates of insurance evidencing thefollowing minimum limits with a California
I admitted carrier with a current A.M. Best's Rating of no less than A: VIL See Exhibits A] - 4for sampleforms.
Any deductible other than those allowed in this matrix, self -insured retentions or similarforms qf coverage limitations or modifications must be approved by the Risk
Manager and City Attorney of the City ofHuntington Beach. NOTE: Waivers andlor modifications are discouraged and will be considered only under
extraordinary circumstances.
Contractors: Any persons or entities who
Minimum of
Combined single
State statutory
Include the
contract with the City and/or provide services to
$1,000,000 per
limit bodily injury
limits of
policy number
the City which are readily available and
occurrence for
and property damage.
$250,000 bodily
and Additional
efficiently procured by competitive bidding.
bodily injury,
Minimum of
injury by
Insured
personal injury
$1,000,000 per
disease, policy
Endorsement
and property
occurrence. Allows
limit, and
Requirement
Permittees: Any persons or entities who
damages. Allows
up to $5,000
$100,000 bodily
statement
make application to the City for any use of or
up to $1,000
deductible.
injury each
below. (See Note
encroachment upon any public street, waterway,
deductible.(See
(Additional Insured
employee for
3 below)
pier, or City property.
Note I below.)
Endorsement is always
required with General
accident or
disease per
Vendors: Any persons or entities who
transfers property or goods to the City which
Liability Ins.)
occurrence.
may or may not involve delivery and/or
(See Note 2
installation.
L
below)
Note I - Automobile Liability: The City of Huntington Beach, its officers, elected or appointed officials, employees, agents and volunteers must be named
as certificate holder and as additional insured by separate attached endorsement. Permittees who do not use vehicles or equipment in connection with the
permit shall not be required to provide auto insurance. To be exempt from this requirement, permittees must execute a declaration such as Exhibit 1
attached.
Note 2 - Workers' Compensation Exemption: If entity has no employees, a signed Declaration of Non -Employee Status form is required.
Note 3 - Additional Insured Endorsement Requirements: The City, its officers, elected or appointed officials, employees agents, and volunteers are to be
covered as additional insureds by separate attached endorsement(s) as respects liability arising out of action performed by or on behalf of the contractor,
products and completed operations of the contractor, premises owned, occupied or used by the contractor, or automobiles owned, leased or borrowed by the
contractor. The coverage shall contain no special limitations on the scope of protection afforded to the City.
H13 Insurance Matrix —revised 10-27-08 1 of 3
CITY OF HUNTINGTON BEACH INSURANCE REQUIREMENTS
Minimum Insurance Requirements
Additi nal
Vendor Type
Automobile
Professional
'Pllropeirty,,
Insured
Liability
General Liability
Liability�
Ins'uranee�
Workers'Comp,
.Endorsements
Huntington Beach City Council Resolution No. 2008-63 requires submittal of certificates of insurance evidencing thefollowing minimum limits with a California
admitted carrier with a currentA.M. Best's Rating of no less than A: VIL See Exhibits A] - 4for sampleforms.
Any deductible other than those allowed in this matrix, se�f-insured retentions or similarforms of coverage limitations or modifications must be approved by the Risk
Manager and City Attorney of the City of Huntington Beach. NOTE: Waivers andlor modifications are discouraged and will be considered only under
extraordinary circumstances.
Design Professionals: Professional service
Minimum of
contractors who contract with the City and/or
$1,000,000 per
provide architectural and/or engineering services
occurrence and
to the City.
in the
aggregate.
Allows up to
Professional Services: Services that
involve the exercise of professional discretion
$10,000
and independent judgment based on an advanced
deductible.
or specialized knowledge, expertise or training
gained by formal studies or experience or
services which are not readily or efficiently
procured by competitive bidding pursuant to HI3
Muni Code 3.02. Services includes but is not
limited to those services provided by appraisers,
architects, attorneys, engineers, instructors,
insurance advisors, physicians and other
specialized consultants.
Claims made policies are acceptable if the policy further provides that:
1) The policy retroactive date coincides with or precedes the professional services contractor's start of work (including subsequent policies purchased as
renewals or replacements).
2) The professional services contractor will make every effort to maintain similar insurance during the required extended period of coverage following
project completion, including the requirement of addina all additional insureds.
3) If insurance is terminated for any reason, professional services contractor agrees to purchase an extended reporting provision of at least two (2) years to
report claims arising from work performed in connection with this agreement or permit.
14) The reporting of circumstances or incidents that might give rise to future claims.
H13 Insurance Matrix —revised 10-27-08 2 of 3
CITY OF HUNTINGTON BEACH INSURANCE REQUIREMENTS
Minimum Ins.ur nce Requirements
Automobile
Professional
'Property
Additional
Insured
Vendor T ype
Liability
General Liability
�,iability
Insurance
Workers" Comp
Endorsements
Huntington Beach City Council Resolution No. 2008-63 requires submittal of certificates of insurance evidencing thefollowing minimum limits with a California
admittedearrier with a currentA.M. Best's Rating of no less thanA:VH. See ExhibitsAl - 4for sampleforms.
Any deductible other than those allowed in this matrix, self -insured retentions or similarforms of coverage limitations or modifications must be approved by the Risk
Manager and City Attorney of the City of Huntington Beach. NOTE: Waivers andlor modifications are discouraged and will be considered only under
emraordinary circumstances.
Licensees/Lessees: Any persons or entities
Combined single
Full
State statutory
Include the
who contract with the City for the use of public
limit bodily injury
replacement
limits of
policy number
property.
and property damage.
cost with no
$250,000 bodily
and Additional
Minimum of
coinsurance
injury by
Insured
$1,000,000 per
penalty
disease, policy
Endorsement
occurrence. Allows
provision.
limit, and
Requirement
up to $5,000
$100,000 bodily
statement
deductible.
injury each
below.(See Note
(Additional Insurance
employee for
2.)
Endorsement is always
accident or
required with General
disease per
Liability Ins)
occurrence.
(See Note I
J_
J.
below)-
Note I - Workers' Compensation Exemption: If entity has no employees, a signed Declaration of Non -Employee Status form is required.
Note 2 - Additional Insured Endorsement Requirements: The City, its officers, elected or appointed officials, employees agents, and volunteers are to be
covered as additional insureds by separate attached endorsement(s) as respects liability arising out of action performed by or on behalf of the contractor,
products and completed operations of the contractor, premises owned, occupied or used by the contractor, or automobiles owned, leased or borrowed by the
contractor. The coverage shall contain no special limitations on the scope of protection afforded to the City.
H13 Insurance Matrix —revised 10-27-08 3 of 3
I IADIMI, - Vi K,
TO: The City of Huntington Beach
2000 Main Street
Huntington Beach, CA 92648
This is to certify that the described insurance is in force at this date with:
Colony Specialty Insurance Company
NAMED AND ADDRESS OF INSURED:
Arbitrage Compliance Specialists, Inc.
5975 S. Quebec Street, #205
Centennial CO 80111
TYPE OF INSURANCE: Accountants Professional Liability
AMOUNT OF COVERAGE
POLICY PERIOD
$2,000,000 Limit of Liability, Each Claim
$2,000,000 Limit of Liability, Aggregate
$5,000 Deductible, Each Claim
$5,000 Deductible, Annual Aggregate
Effective Date 01/06/2010
Expiration Date 01/06/2011
POLICY NUMBER IAC10887 - 0
This certificate is furnished to you as a matter of information only and confers no rights upon the
Certificate holder. The issuance of the Certificate does not make the person or organization to
whom it is issued an additional Insured, nor does it modify in any manner the Policy between the
Insured and the Insurers. Any amendment, change or extension of such Policy can only be
effected by special endorsement attached thereto.
In the event of cancellation of the aforementioned Policy by the undersigned, the undersigned
will endeavor to give 30 days written notice to the party to whom this Certificate is issued, but
failure to give such notice shall impose no obligation upon the undersigned.
APPR ZVS TO FO DATE: November 3,2010
'P
JENNI C TH, City Att( y
Authorized Representative
2000 S. Batavia Ave. Suite 3001 Geneva, IL 601341 Tel: 800.447.4626 1 Tel: 630.208.1900 1 Fax: 888.447.6289 1 MWINSIGHTINSURANCE.COM
Kau 04 2010 06:45:14 Via FdX _> 3030fi775Z3 The Hartford FdX Page 003 Of 083
At�bRbP CERTIFICATE OF LIABILITY INSURANCE U022
ky.� i
FDATI (MMIDDIYYYY)
11_ 04-2010
THIS CEIRTIFICATEIS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS
CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES
BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED
REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.
IMPORTANT: If the certificate holder is an ADDITIONALINSURED, the policy(iss) must be endorsed, If SUBROGATIONIS WAIVED, subject to
the terms and conditions of the policy, certain policies may require an endorsement. A statementon this certificate does not confer rights to the
certificate holder in lieu of such andorsoment(s).
PRW=R
VAN GILDER INSURANCE CORP/A&E/PHS
342614 P:(866)467-8730 F:(877)905-0457
PO BOX 33015
SAN ANTONIO TX 78265
CONTACT
-NAMEi
PHONE FAX
0' T): (866)467-8730 (A C, No): (877)905-04S7
M 1'1':
ADDRESS:
CUSTOMER I D 0:
INSURER(S) AFFORDIN13 COVERAGE
NAIC
W&MO
ARE31TRACE COMPLIANCE SPECIALISTS INC
5975 S QUEBEC ST # 205
CENTENNIAL CO 80111
INSURER A Hartford Casualty Ins Co
INSURER 9
INSURER C
INSURER D:
INSURER E
INSURER F
r. nVPRAr.r-.R rrPTIrirATr- Nil 1RAnrl*, 1=11CIMKI KII ]&Anrl*-
THIS IS 70 CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD
INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS
CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SU13JECT TO ALL THE TERMS,
EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
1AISIT
L7R
rypR OF NVSLR"Cff
ww
WVD
PG=Y ALVAER
maivy spr
IA&AWIYVYV
J
PvLlur CAP
#"/=yyyyJ
LM&TS
GEAERAL LMAWAY
'A'&' OrCURREN"
0 2,000,000
A
COMMERCIAL GENERAL LIABILITY
—7 CLAIMS -MADE FT OCCUR
X General Lialo
x
34 SSW KC8287
01/17/2010
01/17/2011
IJA Xar ,
P R E M 19 M 1
0 300,000
MED EXF (Any one person)
0 10,000
PERSONAL& ADV INJURY
0 2,000,000
GENERAL AGGREGATE
0 4,000,000
�EN'L AGGREGATE LIMIT APPLIES PER:
POLICY [I P!!C'T_ E LOO
PRODUCTS - COMPIOP AGG
$ 41000,000
0
AWA211#09B
LAAWY
COM13INED SINGLE LIMIT
(Es socidern)
0
2 000 , 000
ANY AUTO
BODILY INJURY (Fer Person)
0
ALL OWNED AUTOS
BODILY INJURY (For aceldent)
-
0
A
X
SCHEDULED AUTOS
HIRED AUTOS
34 SSW KCa267
01/17/2010
01/17/2011
PROPERTY DAMAGE
IFer acaldem)
$
$
X
NON -OWN ED AUTOS
81 L"a
717D
OCCUR
EACH OCCURRENCE
AOURE13ATE
0
ES
HCLAIMS-MADE
"T "L'
ETENTIIN
WOMLWS COMMACArAN
STAT U TH
T
AND EMPLOYEM'LL49MITY YtN
ANY PROPRIETOR/PARTNERIEXECUTIVE7
OFFIGMiMEMBFREXCLUD
(Afardsivy." NH)
11 yea, deacribe under
I DESCRIPTION OF OPERATIONS bmiow
NIA
TWC
CRY ". T7.
E.L. EACH ACCIDENT
e
E.L. DISEASE - EA EMPLOYEE
*
E.L. DISEASE - POLICY LIMIT
1 0
DEWNPrMN OF QMA77QW1LQGA7MW1 MMLES (Affach AGORD 107, AddMVWR&w** 6M@dM ffmomp am@ It mwftW
Thoi�e.uaual to the Insurp_(�Ig era�iona. The City of Huntington Reach, its
off lqc�ed r appointeceofficals, employego agents, and volunteers are
namela'a"S'Aaclitiona? InSUred per the BUGineSb Lia 11ity Coverage Form SS0008.
The City of Huntington Reach
2000 MAIN ST
HUNTINGTON BEACH, CA 92648
Its] kim
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED
BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE
DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS.
ALnMAWDRAWSENIIIATM
1.1 1988-2009 ACORD CORPORATION. All rights reserved.
ACORD 26 (2009/09) The ACORD name and logo are registered marks of ACORD
Mou 84 2810 06:45:86 Vid FdX
3030677523 ThC Hdrtford FdX
PdgE 082 Of 003
VAN GILDER INSURANCE CORNAM/PHS
PO BOX 33015
SAN ANTONIO TX, 78285
ACORD 25 (2009109)
The City of Huntington Beach
2000 MAIN ST
HUNTINGTON nRACH, CA 92848
11/02/2010 03:13PM PINNACOL ASSURANCE PAGE 2 OF 3
A CQR I.
CERTIFICATE OF LIABILITY INSURANCE
DATE (MWDDNYYY
11102f2olo
PRODUCER
PINNACOL ASSURANCE
7501 E Lowry Blvd
Denver, GO 80230-7006
THIS CERTIFICATE IS ISSUED ASA MATTER OF INFORMATION ONLY
AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS
CERTIFICATE DOES NOT AMEND, EXTEND OR ALTER THE
COVERAGE AFFORDED BY THE POLICIES BELOW.
INSURERS AFFORDING COVERAGE NAIC#
INSURED
INSURERN PINNAGOL ASSURANCE
41190
ARBITRAGE COMPLIANCE SPECIALISTS ING
5975 S. QUEBEC ST. #205
GREENWOOD VILLAGE, CO 80111
INSURER B:
INSURGR 0:
INSURER 0:
INSURERIE,
COVERAGES
THE POLIC�ES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITH-STANDNG
ANY REQU REMENT. TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR
MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH
POLICIES. Ll ' MITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
INSR
AOD-L
POLICY EFFECTIVE
POLCY EXPIRA71ON
LTR
INSRO
TYPE OFINSURANCE
POLICY NUMBER
DATE�MMIDONYYY)
DATE�MMJDD/YYYY)
LIMITS
GENERAL LLABILiTY
EACH OCCURRENCE
DAMA09 TO RgNT913
COMMERCIAL GENERAL JAS[UTY
CLAMSMADE D OCCUR
PREMISES
MED EXPtAny one pemon)
PERSCNAL&ADVIKLURY
GENERAL AGGREGATE
GENI. AGGREGATE LIMIT APPUERS PER:
PRODUCTS - COMP�OP AGO
7 POLICY p PROJECT LOG
AUTOMOBILE LIABILITY
COMBINED SINGLE LIMIT
ANY AUTO
(StA"-Ident)
BODILY INJURY
ALL OWNED AUTOS
SCHEDULED AUTOS
(Perpemonj
SOOILYINJURY
HIREDAUTOS
NON-OWNEO AUTOS
(Peraccident)
PROPERTY OAMAGE
�Peraccldent)
GARAGE LLABILITY
AUTO ONLY, EA ACCIDENT
OTHER THAN EA AGO
ANYAUTO
Appyo AS
FPRM
4 -A
4
'-7 ./2
AUTO ONLY: AG�
EXCESSJUNERELLA LIABILITY
OCCUR 7 CLIJMS MADE
JD&IFtlZ Mce,
FATH, City,
�"�f (--.EACH
Wo y
OCCURRENCE
AGGREGATE
DEDUCTIBLE
RETENTION
WORRIERS CONFENSATIONAND
-C STATU- Li OTHER
A
EMPLOYER'S L11AWLITY
ANY PROPRIETOPPARTNERIEXEGUTIVE
3358559
08/01/2010
08/0112011
TORY LIMITS
E,L EACH ACCIDENT
OFFICEPJMEMBER EXCLUDED?
E.LDISEASE EA EMPLOYEE
$1,000,000
11yes, plem descrIbe under SPECIAL PROVISIONS below
E.LOISEASE POUCYUMIT
$1,00C.000
OTHER
-L -j
DESCRIPTION OF OPERA'nONS/LOCA'nONSfVr=HICLES)EXCLUSIONS ADDED BY ENDORSEMENTISPECIAL PROVISIONS
CERTIFICATE HOLDER
CANCELLATION
-FORE
1270414
SHOULD ANY OF THEABOVE DESCRIBED POLICIES BE CANCEFLED BE
THE CITY OF HUNTINGTON BEACH
2000 MAIN STREET
Huntington Beach CA 92648
THE EXPIRATION DATE THEREOF, THE ISSUING COMPANY WILL ENDEAVOR T
MAIL 0 DAYS WRITTEN NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE
LEFT, BUT FAILURE TO MAIL SUCH NOTICE SHALL IMPOSE NO OBLIGATION OF
LIABILITY OF ANY KIND UPON THE COMPANY. ITS AGENTS OR
REPRESENTATIVES.
AUTHORIZED REPRESENTATIVE
TimotMy Hurd
AGORD 25(2001108)
Underwriter ACORD COROORATION 1938
Resolution No. 2008-63
DECLARATION OF PERN11TTEE
I certify that no vehicle(s) will be used or operated in the performance of the
task(s) or event(s) for which this permit is granted.
I authorize the City of Huntington Beach to immediately and retroactively revoke
the license or permit issued in connection with or in the performance of said task(s)
or event(s) if any vehicle(s) is used,
Signature of Permittee
Print name Janet P.
Company name (if applicable) Arbitrage Compliance Specialists, Inc.
Date signed // — o '� — --z 6 ') n
M
16407 EXHIBIT I
CITY OF HUNTINGTON BEACH
Professional Service Approval Form
PART I
Date: 10/13/2010 Project Manager Name: Dahle Bulosan
Requested by Name if different from Project Manager:
Department: Finance
PARTS I OF THE PROFESSIONAL SERVICES CONTRACTS APPROVAL FORM MUST BE
COMPLETED BY THE REQUESTING DEPARTMENT AND SIGNED BY THE CITY
ADMINISTRATOR, FOR APPROVAL, BEFORE PROCEEDING WITH THE SOLICITATION OR
CONTRACT PROCESS. PART I MUST BE FILED WITH ALL APPROVED CONTRACTS.
1) Briefly provide the purpose for the agreement:
Arbitrage Rebate Compliance Services
2) Estimated cost of the services being sought: $ 15,000
3) Are sufficient funds available to fund this contract? Z Yes El N o
4) Is this contract generally described on the list of professional service contracts approved by the
City Council? If the answer to this question is "No," the contract will require approval from the
CityCouncil.) ZYesF�No
5) Business Unit (8 digits) and Object Code (5 digits) where funds are budgeted:
Bond Issue
Account
Amount
Judgment Obligation Bonds
70740101.88150
1,500.00
2001 -a Lease Revenue Bonds
40140103.88150
1,500.00
2001-b Lease Revenue Bonds
40140104.88150
1,500.00
2010-a Lease Revenue Bonds
40140105.88150
1,500.00
1999 Tax Allocation Refunding Bonds
40780201.88150
1,500.00
2002 Tax Allocation Refunding Bonds
40780202.88150
1,500.00
CFD 1990-1
40640101.88150
1,500.00
CFD 2000-1
40540101,88150
1,500.00
CFD 2002-1
40840101.88150
1,500.00
CFD 2003-1
41040101.88150
1,500.00
Total
15,000.00
6) Check below how the services will be obtained:
F-1 A Bid solicitation process in accordance to the MC 3.03.060 procedures will be conducted.
MC 3.03.08,(0) — Other Interagency Agreement procedure will be utilized.
MC 3.03 08 Pntra t Limits of $30,000 or less exempt procedure
will be utilized.
PP Signature
!!p�� rl
Date
�ed
o
Directd'yo�Kfn7an e s Initials
Date
0
Ileputy 'City,/AONnistrator's Initials
Date
APPROVED4 F-1
.4/AFAIED
12-1-ld
//(tifiAdministrator's Signature
Date
CITY OF HUNTINGTON BEACH
Professional Service Approval Form
PART 11
Date: 10/14/2010 ProjectManager: DahleBulosan
Requested by Name if different from Project Manager:
Department: Finance
PARTS I & 11 OF THE PROFESSIONAL SERVICES CONTRACTS APPROVAL FORM MUST BE
COMPLETED BY THE REQUESTING DEPARTMENT AND SIGNED FOR APPROVAL. PART I
& //MUST BE FILED WITH ALL APPROVED CONTRACTS.
1 Name of consultant: Arbitrage Compliance Specialists, Inc.
2) Contract Number: FIN 01005700
(Contract numbers are obtained through Finance Administration)
3) Amount of the contract: $ 15,000
4) Is this contract less than $50,000? Z Yes F-1 No
5) Does this contract fall within $50,000 and $100,000? 0 Yes M No
6) Is this contract over $100,000? F-1 Yes Z No
(Note: Contracts requiring City Council Approval need to be signed by the Mayor and
City Clerk. Make sure the appropriate signature page is attached to the contract.)
7) Were formal written proposals requested from at least three available qualified
consultants? Z Yes F-1 No
8) Attach a list of consultants from whom proposals were, requested (including a contact
telephone number.)
9). Attach Exhibit A, which describes the proposed scope of work.
10) Attach Exhibit B, which describes the payment terms of, the contract.
Director of Finance (o!Xesignee) Signature Dat�
Arbitrage Rebate Compliance Services
List of Consultants for Question 8 on Part 11 Professional Service Approval Form
Company Name Contact Name Phone #
Arbitrage Compliance Specialists, Inc. Doug Pahnke (800)672-9993 x 7526
American Municipal Tax Exempt Compliance Corp Raymond Bentley (860)523-5112
BLX Group LLC Nancy Kummer (213)612-2215
Willclan Financial Services Anne Pelej (951)587-3594
The Bank of New York Mellon Trust Company, N.A. Terence Burke� (214)580-1220