RESOLUTION NO. RES-2024-188
RESOLUTION OF THE COUNCIL OF THE CITY OF SANTA ROSA APPROVING ASSIGNMENT AND ASSUMPTION OF PROFESSIONAL SERVICES AGREEMENT NUMBER F002061 AND CONSENT TO ASSIGNMENT WITH PFM ASSET MANAGEMENT, LLC AND U.S. BANCORP ASSET MANAGEMENT, INC., A DELAWARE CORPORATION DBA PFM ASSET MANAGEMENT WHEREAS, the City of Santa Rosa (the City) has a continued need for investment, reporting and advisory services; and WHEREAS, on October 1, 2019, as a result of a competitive process, the City entered into an agreement for investment advisory services with PFM Asset Management, LLC (PFM); and WHEREAS, the original agreement was for a five-year term, with five (5) optional one-year extensions; and WHEREAS, PFM notified the City in July 2024 that PFM had been consolidated into its parent company, U,S. Bancorp Asset Management, Inc., a Delaware Corporation; and WHEREAS, PFM has requested the City consent to the assignment of its rights and duties under the original agreement to U.S. Bancorp Asset Management, Inc. and U.S. Bancorp Asset Management, Inc. has agreed to assume PFM’s rights and duties under the original agreement. ///
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NOW, THEREFORE, BE IT RESOLVED that the Council of the City of Santa Rosa approves the Assignment and Assumption of Professional Services Agreement Number F002061 and Consent to Assignment with U.S. Bancorp Asset Management, Inc., attached to this resolution as Exhibit A and made a part of herein, IN COUNCIL DULY PASSED this 10th day of December, 2024.
AYES: (6) Mayor N. Rogers, Vice Mayor Stapp, Council Members Alvarez, Fleming, MacDonald, Okrepkie
NOES: (0)
ABSENT: (0)
ABSTAIN/RECUSE: (0)
ATTEST: _________________________ APPROVED: ______________________________ City Clerk Mayor
APPROVED AS TO FORM: ________________________
City Attorney
Exhibit A – Assignment & Assumption and Consent to Assignment Reso. No. RES-2024-188
RFP Agreement Reso_V1