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ORDINANCE NO. 10495
AN ORDINANCE APPROVING AN AGREEMENT BETWEEN THE CITY OF
PUEBLO, A COLORADO MUNICIPAL CORPORATION, AND HILLTOP
SECURITIES INC., MUNICIPAL ADVISORY SERVICES AND AUTHORIZING
THE MAYOR TO EXECUTE SAME
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The Agreement between the City of Pueblo, a Municipal Corporation, and Hilltop
Securities, Inc., for the rendering of Municipal Advisory Services to the City of Pueblo, attached
hereto, having been approved as to form by the City Attorney, is hereby approved.
SECTION 2.
The Mayor is hereby authorized to execute said Agreement for and on behalf of the City
and the City Clerk is authorized to affix the seal of the City thereto and attest same.
SECTION 3.
The officers and staff of the City are authorized to perform any and all acts consistent
with this Ordinance and the attached Agreement to implement the policies and procedures
described therein.
SECTION 4.
This Ordinance shall become effective on the date of final action by the Mayor and City
Council.
Action by City Council:
Introduced and initial adoption of Ordinance by City Council on June 12, 2023.
Final adoption of Ordinance by City Council on June 26, 2023.
____________________________
President of City Council
Action by the Mayor:
☒ Approved on _June 29, 2023____.
☐ Disapproved on ______________ based on the following objections:
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
____________________________
Mayor
Action by City Council After Disapproval by the Mayor:
☐ Council did not act to override the Mayor's veto.
☐ Ordinance re-adopted on a vote of ____________, on _____________
☐ Council action on _______ failed to override the Mayor’s veto.
____________________________
President of City Council
ATTEST
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City Clerk
City Clerk's Office Item # R12
Background Paper for Proposed
Ordinance
COUNCIL MEETING DATE: June 26, 2023
TO: President Heather Graham and Members of City Council
CC: Mayor Nicholas A. Gradisar
VIA: Marisa Stoller, City Clerk
FROM: Alexandria Romero, Director of Finance
SUBJECT: AN ORDINANCE APPROVING AN AGREEMENT BETWEEN THE CITY
OF PUEBLO, A COLORADO MUNICIPAL CORPORATION, AND
HILLTOP SECURITIES INC., MUNICIPAL ADVISORY SERVICES AND
AUTHORIZING THE MAYOR TO EXECUTE SAME
SUMMARY:
This Ordinance approves an agreement between the City of Pueblo and Hilltop
Securities, Inc. for municipal advisory services.
PREVIOUS COUNCIL ACTION:
Council has previously approved similar agreements for advisory services for issuance
of municipal securities and debt financing.
BACKGROUND:
Hilltop Securities, Inc., through its Senior Managing Director, Jason Simmons, and
Senior Vice President, Mattie Prodanovic, will provide municipal advisory services from
the pre-issuance planning stage to the repayment stage, to the City for issuance of
municipal securities to fund the construction of the new fire stations.
FINANCIAL IMPLICATIONS:
The fees for these services are generally absorbed as part of the cost of debt issuance
and are approved through the financing ordinances. Other work performed would need
to be budgeted through departmental budgets.
BOARD/COMMISSION RECOMMENDATION:
Not applicable to this Ordinance.
STAKEHOLDER PROCESS:
Not applicable to this Ordinance.
ALTERNATIVES:
Failure to adopt this Ordinance will result in the City Council not authorizing the
agreement for municipal advisory services.
RECOMMENDATION:
Approval of the Ordinance.
ATTACHMENTS:
1. HTS Municipal Advisory Agreement - City of Pueblo - 05.23.2023