RESOLUTION OF CONSENT TO THE APPOINTMENT OF AMERICAN MUNICIPAL TAX-EXEMPT COMPLIANCE CORP (AMTEC) FOR ARBITRAGE SERVICES FOR THE TOWNSHIP OF JACKSON FOR CY 2025

WHEREAS, there exists a need for Arbitrage Services for the Township of Jackson; and

WHEREAS, the Township issued a solicitation of professional services contracts in accordance with a fair and open process adopted by the Township of Jackson in accordance with Ch. 9, P.L. 2004; and

WHEREAS, said solicitation of professional services contracts satisfies the requirements of a fair and open process under N.J.S.A. 19:44A:20.5; and

WHEREAS, all proposals were to be submitted to the Office of the Township Clerk by November 1, 2024; and

WHEREAS, after reviewing said proposal, the Mayor, with the advice and consent of the Township Council, desires to appoint:

AMERICAN MUNICIPAL TAX-EXEMPT COMPLIANCE CORP (AMTEC): 90 Avon Meadow Lane, Avon, CT 06001

WHEREAS, the maximum amount of the contract to be awarded under this resolution is as set forth in the 2025 Municipal Operating Budget for Arbitrage Services; and

WHEREAS, the amount of the contract to be awarded under this resolution is determined to not exceed $20,000.00, which sum is reasonably estimated based upon such Arbitrage Services as may be required over the contract term to be awarded under this resolution, including, but not limited to, the amount spent for such Arbitrage Services for the previous calendar year, the costs of compensation under the contract to be awarded, and any projected increase or decrease in services anticipated versus the prior year, and which sum the Township of Jackson is under no obligation to spend and which may be exceeded; and

WHEREAS, the Local Public Contracts Law, N.J.S.A. 40A:11-1 et seq., requires that the resolution and contract be made available for public inspection.

NOW, THEREFORE, BE IT RESOLVED by the Mayor, with the advice and consent of the Township Council of the Township of Jackson, County of Ocean, State of New Jersey, as follows:

1. That (AMTEC) is hereby appointed Arbitrage Services for the Township of Jackson commencing January 1, 2025 and ending December 31, 2025, and shall perform all Arbitrage Services under the contract authorized herein.
2. That the Mayor is hereby authorized to execute and the Township Clerk to attest to an agreement with (AMTEC). Said contract will provide for the payment of $500.00 per bond issue in the event that the Township calls upon (AMTEC) during CY 2025.
3. That this contract is awarded as a Professional Service in accordance with N.J.S.A. 40A:11-5(1)(a)(I) of the Local Public Contracts Law because it is for services to be performed by person(s) authorized by law to practice a recognized profession.
4. That a notice of this action shall be printed once in the official newspaper of the Township of Jackson.
5. That this resolution shall take effect immediately.
6. That a certified copy of this resolution shall be provided by the Township Clerk to the Purchasing Department, Finance, (AMTEC) and any other interested parties.