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BOARD OF COUNTY COMMISSIONERS <br />COUNTY OF KITTITAS <br />STATE OF WASHINGTON <br />RESOLUTION NO. 2019 -\ ~ ~ <br />A RESOLUTION ACKNOWLEDGING EXTENSION OF THE PROFESSIONAL SERVICES <br />AGREEMENT BETWEEN KITTITAS COUNTY TREASURER'S OFFICE AND PFM FINANCIAL <br />ADVISORS, PLLC <br />WHEREAS, Kittitas County Treasurer's Office (KCTO) has had a Professional <br />Services Agreement with PFM Financial Advisors, PLLC (PFM) since 2016 in which PFM <br />serves as the financial advisor to assist the Treasurer's office in developing and <br />implementing strategies to meet their short and long-term operations, financial <br />obligations, capital financing needs, and to render assistance with respect to debt <br />transactions; and <br />WHEREAS, PFM and KCTO wish to extend the existing professional services <br />contract an additional two years in writing, as allowed for in the original contract <br />agreement, a copy of which is attached hereto; and <br />WHEREAS, the purpose of extending the agreement is to continue the agreement <br />from January 1, 2020 to December 31, 2021 and thereby retain the services of PFM as <br />financial advisor, for which a quarterly retainage fee of $1,000 is paid, as well as any <br />additional fees billed at a fixed rate for financing projects (e.g., bond issuance) and non- <br />transaction related hourly project fees; and <br />WHEREAS, there were no changes to the contract terms, including cost, other <br />than extending the term from January 1, 2020 to December 31, 2021. The original <br />contract allows for additional two year extension terms upon mutual agreement in writing. <br />NOW, THEREFORE, BE IT RESOLVED AND IT IS HEREBY ORDERED, That <br />the Agreement between Kittitas County Treasurer's Office and PFM Financial Advisors, <br />PLLC is adopted. <br />ADOPTED this ~L day of ou,,,ern);:e,,(2 2019 . <br />BOARD OF COUNTY COMMISSIONERS <br />KITTIT COUNT I WASHINGTON <br />RESOLUTION