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RESOLUTION 025R-21 TITLE: CONSENT TO THE APPOINTMENT OF PHOENIX ADVISORS FOR FINANCIAL ADVISORY SERVICES FOR THE TOWNSHIP OF JACKSON FOR CY 2021

MOTION TO APPROVE BY: SAUICKIE MOTION SECONDED BY: FLEMMING YES: BORRELLI, CHISHOLM, SAUICKIE, FLEMMING, KERN

WHEREAS, there exists a need for Financial Advisory 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, a determination of value has been made by the Township that said contract shall be a value in excess of $17,500; and

WHEREAS, all proposals were to be submitted to the Office of the Township Clerk by November 19, 2020; and

WHEREAS, after reviewing the proposal submitted, the Mayor, with the advice and consent of the Township Council, desires to appoint Phoenix Advisors as Financial Advisors for CY 2021; and

WHEREAS, the maximum amount of the contract to be awarded under this resolution is as set forth in the 2021 municipal budget for financial advisory services; and

WHEREAS, the amount of the contract to be awarded under this resolution is determined to be $25,000.00, which sum is reasonably estimated based upon such Financial Advisory 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 Financial Advisory 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 Township Council of the Township of Jackson, County of Ocean, State of New Jersey, as follows:

1. That Phoenix Advisors is hereby appointed Financial Advisors for the Township of Jackson commencing January 1, 2021 and ending December 31, 2021.
2. That the Mayor is hereby authorized to execute and the Township Clerk to attest to an agreement with Phoenix Advisors.
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 Chief Financial Officer and Phoenix Advisors

CERTIFICATE OF AVAILABILITY OF FUNDS