HomeMy WebLinkAboutResolution #5347 i
RESOLUTION NO. 5347
A RESOLUTION APPROVING AN ENGAGEMENT LETTER BETWEEN THE CITY OF
CANTON AND LAUTERBACH&AMEN LLP TO PREPARE PROJECTION
CALCULATIONS RELATED TO ISSUING PENSION OBLIGATION BONDS
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CANTON,
ILLINOIS,AS FOLLOWS:
1. That the engagement letter attached hereto and incorporated herein as"Exhibit A" is
hereby approved.
2. That the Mayor, or his designee, and/or the Treasurer of the City of Canton are authorized
and directed to execute said engagement letter on behalf of the City of Canton.
3. That this Resolution shall be in full force and effect immediately upon its passage by the
City Council of the City of Canton, Illinois, and approval by the Mayor thereof.
PASSED by the City Council of the City of Canton, Illinois, at a regular meeting this 21 st
day of December,2021, upon a roll call vote as follows:
AYES: Alderperson Justin Nelson,John Lovell, Craig West,Angela Hale, Jeff Fritz,Angela
Lingenfelter, Greg Gossett
NAYS: None
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ABSENT: Alderperson Andra Chamberlin
APPROVED.
Kent McDowelT, Mayor
ATT ST:
Dia -Pavley-Roc , City Clerk
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-"-j--= Lauterbach
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9 PHONE 630.393.1483 • FAX 630.393.2516
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December 7,2021
City of Canton
2 N. Main Street
Canton,Illinois 61520
We are pleased to confirm our understanding of the services we are to provide for the City of Canton for
the calendar year 2021. It is our understanding that Lauterbach & Amen, LLP will prepare Projection
Calculations related to issuing Pension Obligation Bonds. The cost for these services will be $200 per
hour,not to exceed $2,400 per pension fund.
You agree to assume all management responsibilities for the actuarial services we provide; you will
oversee the services by designating an individual,preferably from senior management,with suitable skill,
knowledge, or experience; you will evaluate the adequacy and results of the services and will accept
responsibility for them.
Lauterbach& Amen, LLP does not assume any management responsibilities for the City. These services
ill inform
cannot be relied upon detect errors,irregularities,or illegal acts that may exist.However,we w o
p g g Y
you of any such matters that may come to our attention.
This engagement may be terminated by either party by giving 30 days written notice to the other party.
Subcontracting is prohibited without the express written approval of the City's Board of Trustees. This
agreement shall be governed by and construed in accordance with the laws of the State of Illinois.
Please indicate your acceptance of the above understanding by signing below.
Cordially,
& 46M,
Lauterbach&Amen,LLP
RESPONSE:
This letter correctly s is f rth the unders ding of the C' of Canton:
Accepted by: ,
Title: ` J�