DEPARTMENT: Finance
FILE TYPE: Consent Action
TITLE
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Authorization To Execute Contract With Ehlers Investment Partners, LLC, A Subsidiary Of Ehlers And Associates, Inc. For Investment Advisory Services And Amend 2025 Finance And Non-Departmental Budgets
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RESOLUTION
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WHEREAS, the County has approved the sale of general obligation bonds; and
WHEREAS, the County desires to engage Ehlers Investments Partners, LLC, a subsidiary of Ehlers and Associates Inc., to ensure compliance with all applicable legal, regulatory, and fiduciary requirements in the management of its bond funds; and
WHEREAS, there is a need for expert investment advisory services to effectively manage the County's bond funds.
NOW, THEREFORE, BE IT RESOLVED, That the Dakota County Board of Commissioners hereby authorizes the Deputy County Manager to execute the contract with Ehlers Investments Partners, LLC, a subsidiary of Ehlers and Associates Inc., to provide investment advisory services for the management of the County's bond funds in an amount not to exceed $176,000 over the 5-year term of the contract, subject to approval by the County Attorney’s Office as to form; and
BE IT FURTHER RESOLVED, That the Dakota County Board of Commissioners hereby amends the 2025 Finance budget as follows:
Expense
Contract Exp $32,500
Total Expense $32,500
Revenue
Levy $32,500
Total Revenue $32,500
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BE IT FURTHER RESOLVED, That the Dakota County Board of Commissioners hereby amends the 2025 Non-Departmental budget as follows:
Revenue
Levy ($32,500)
Interest on Investments $32,500
Total Revenue $0
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