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Meeting Date:	01/11/2021
Arbitrage Agreement
Submitted for:	Jorge L. Trevino	Submitted By:	Jorge L. Trevino
Department:	Civil Legal Division

Subject:

Discussion and possible action to enter into a Five (5) year agreement (beginning January 11, 2021 to January 10, 2026) in the annual amount of One Thousand Six Hundred Dollars ($1,600.00) and Seven Hundred Fifty Dollars ($750.00) per IRS refund request, with Hilltop Securities Asset Management, LLC, to act as an agent of Webb County in the determination of County’s requirement to rebate certain investment earnings “Arbitrage Amount” from the proceeds in connection with the sale of certain bonds, notes, certificates, or other tax-exempt obligations, pursuant to the provisions of Section 148 (f)(2) of the Internal Revenue Code of 1986; and authorizing the Webb County Judge to sign all relevant documents and any other matters incident thereto. [Requested by Rafael Perez, Auditor]

Issue: The County will need to determine to what extent, if any, it will be required to rebate certain investment earnings.

Solution: Contract with HSAM so that the County can continue to be compliant with monies needed to be paid pursuant to Internal Revenue Codes.

Result: Agreement between Webb County Hilltop Securities Asset Management, LLC will provide the professional services to aid in meeting the County’s obligations.

Background:

n/a

Previous Court Action:

Fiscal Impact

Budget Account Number:	NA
Funding Source:	NA
Balance:	NA
Financial Impact:
NA

Attachments
Agreement
CIQ