Ordinance No. 15,089 ORDINANCE NO. 15,089
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS,
ACCEPTING THE BID OF HILLTOP SECURITIES ASSET MANAGEMENT, LLC,
FOR INVESTMENT ADVISORY SERVICES AND AUTHORIZING PAYMENT BY
THE CITY OF BAYTOWN OF AN AMOUNT NOT TO EXCEED ONE HUNDRED
THOUSAND AND NOi 100 DOLLARS ($100,000.00) PER YEAR; MAKING OTHER
PROVISIONS RELATED THERETO; AND PROVIDING FOR THE EFFECTIVE
DATE THEREOF.
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WHEREAS, the City Council of the City of Baytown did authorize the Purchasing Division ofthe
City of Baytown to advertise for bids for Investment Advisory Services to be received February 2, 2022;
and
WHEREAS, notice to bidders as to the time and place, when and where the contract would be let
was published pursuant to the provisions of Chapter 252 of the Texas Local Government Code; and
WHEREAS, all bids were opened and publicly read at the Baytown City Hall at 2:00 p.m.,
Wednesday, February 2,2022, as per published notice to bidders; NOW THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS:
Section 1: That the City Council of the City of Baytown hereby accepts the bid of Hilltop
Securities Asset Management, LLC, for Investment Advisory Services for an amount not to exceed ONE
HUNDRED THOUSAND AND NO 100 DOLLARS ($100,000.00) per year and authorizes payment
thereof.
Section 2: That pursuant to the provisions of Texas Local Government Code
Annotated § 252.048, the City Manager is hereby granted general authority to approve any change order
involving a decrease or an increase in costs of FIFTY THOUSAND AND NO.!100 DOLLARS
($50,000.00)or less, subject to the provision that the original contract price may not be increased by more
than twenty-five percent(25%') or decreased by more than twenty-five percent (250 o) without the consent
of the contractor to such decrease.
Section 3: This ordinance shall take effect immediately from and after its passage by the
City Council of the City of Baytown.
INTRODUCED, READ and PASSED by the affirmativ the Cit,r Counci f the City of
Baytown this the 28"day of April,2022.
gp,YTOby NDON AP , LLO Mayor
ATTEST: \�OF•e�.......e0 TF`
ANGELA JAWKSON,Cit 1 'LOGO
APPROVED AS TO FORM:
TREVOR FANNING, Interim City Attorney
R:UCaren Anderson'ORDINANCES 2022 2022.04.28 Award InvestmentAdvisoryServices-Hi11top.docx