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20.

Meeting Date:	01/25/2016
Renewal of Contract with First Southwest Asset Management, LLC
Submitted for:	Rose Magana	Submitted By:	Rose Magana
Department:	Commissioners Court

Subject:

Discussion and possible action to enter into a Five (5) year renewal agreement with First Southwest 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 any other matters incident thereto.

Issue: Current contract with First Southwest Asset Management, LLC is due to expire on February 14, 2016.

Solution: Renew contract 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 and First Southwest Asset Management, LLC will continue for another Five (5) year agreement.

Background:

n/a

Previous Court Action:

Fiscal Impact

Budget Account Number:	n/a
Funding Source:	n/a
Balance:	n/a
Financial Impact:
n/a

Attachments
Letter to County requesting renewal