20-R-140 - professional serves agreement with Avant Strategic PartnersRESOLUTION NO. 20 -R -140
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF
SCHERTZ, TEXAS AUTHORIZING A PROFESSIONAL SERVICES
AGREEMENT WITH AVANT STRATEGIC PARTNERS, AND OTHER
MATTERS IN CONNECTION THEREWITH
WHEREAS, the City staff of the City of Schertz (the "City ") has determined that the City
requires professional services relating to bond arbitrage calculation and report submission; and
WHEREAS, City staff has determined that Avant Strategic Partners is uniquely qualified
to provide such services for the City; and
WHEREAS, pursuant to Section 252.022(a)(4), the City is not required to seek bids or
proposals with respect to a procurement for personal, professional, or planning purposes; and
WHEREAS, the City Council has determined that it is in the best interest of the City to
contract with Avant Strategic Partners pursuant to the Agreement attached hereto as Exhibit A
(the "Agreement ").
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS
IBMW
Section 1. The City Council hereby authorizes the City Manager to execute and
deliver the Agreement with Avant Strategic Partners in substantially the form set forth on Exhibit
A.
Section 2. The recitals contained in the preamble hereof are hereby found to be true,
and such recitals are hereby made a part of this Resolution for all purposes and are adopted as a
part of the judgment and findings of the City Council.
Section 3. All resolutions, or parts thereof, which are in conflict or inconsistent with
any provision of this Resolution are hereby repealed to the extent of such conflict, and the
provisions of this Resolution shall be and remain controlling as to the matters resolved herein.
Section 4. This Resolution shall be construed and enforced in accordance with the
laws of the State of Texas and the United States of America.
Section 5. If any provision of this Resolution or the application thereof to any person
or circumstance shall be held to be invalid, the remainder of this Resolution and the application
of such provision to other persons and circumstances shall nevertheless be valid, and the City
Council hereby declares that this Resolution would have been enacted without such invalid
provision.
Section 6. It is officially found, determined, and declared that the meeting at which
this Resolution is adopted was open to the public and public notice of the time, place, and subject
matter of the public business to be considered at such meeting, including this Resolution, was
given, all as required by Chapter 551, Texas Government Code, as amended.
Section 7. This Resolution shall be in force and effect from and after its final
passage, and it is so resolved.
PASSED AND ADOPTED, this 1st day of December, 2020.
CITY OF SCHERTZ, TEXAS
4;h tierrez, Mayor
ATTEST:
n �a Dennis, City Secretary
50077397.1
EXHIBIT A
SERVICES AGREEMENT
50077397.1 tai -1
CITY OF SCHERTZ
SERVICE AGREEMENT
THE STATE OF TEXAS §
GUADALUPE COUNTY §
This Service Agreement ( "Agreement ") is made and entered by and between the City of Schertz,
Texas, (the "City") a Texas municipality, and Avant Strategic Partners L.P. ( "Contractor ").
Section 1. Duration
This Agreement shall become effective upon the date of the final signature affixed hereto and shall
remain in effect through September 30, 2025 unless terminated as provided for in this Agreement.
Section 2. Scone of Work
(A) Contractor shall perform the Work as more particularly described in the Scope of Work
attached hereto as Exhibit "A ". The work as described in the Scope of Work constitutes
the "Project ".
(B) The Quality of Work provided under this Agreement shall be of the level of quality
performed by Contractors regularly rendering this type of service.
(C) The Contractor shall perform its Work for the Project in compliance with all statutory,
regulatory and contractual requirements now or hereafter in effect as may be applicable to
the rights and obligations set forth in the Agreement.
(D) The Contractor may rely upon the accuracy of reports and surveys provided to it by the City
except when defects should have been apparent to a reasonably competent Contractor or
when it has actual notice of any defects in the reports and surveys.
Section 3. Comj)ensation
(A) The Contractor shall be paid in the manner set forth in Exhibit "A" and as provided herein.
(B) Billing Period The Contractor may submit an invoice for payment upon completion of the
described tasks. Subject to Chapter 2251, Texas Government Code (the "Prompt Payment
Act"), payment is due within thirty (30) days of the City's receipt of the Contractor's invoice.
Interest on overdue payments shall be calculated in accordance with the Prompt Payment
Act.
(C) Reimbursable Expenses. Any and all reimbursable expenses related to the Project shall be
included in the scope of Work (Exhibit A) and accounted for in the total contract amount.
(D) Payments Subject to Future Appropriation. This Agreement shall not be construed as a
commitment, issue, pledge or obligation of any specific taxes or tax revenues for payment
to Contractor.
CITY OF SCHERTZ PAGE 1
Avant Strategic Partners L.P. Service Agreement
(1) All payments or expenditures made by the City under this Agreement are subject to
the City's appropriation of funds for such payments or expenditures to be paid in the
budget year for which they are made.
(2) The payments to be made to Contractor, or other expenditures under this Agreement,
if paid, shall be made solely from annual appropriations of the City as may be legally
set aside for the implementation of Article III, Section 52 -a of the Texas Constitution
or Chapter 380 of the Texas Local Government Code or any other economic
development or financing program authorized by statute or home rule powers of the
City under applicable Texas law, subject to any applicable limitations or procedural
requirements.
(3) In the event the City does not appropriate funds in any fiscal year for payments due or
expenditures under this Agreement, the City shall not be liable to Contractor for such
payments or expenditures unless and until appropriation of said funds is made;
provided, however, that Contractor, in its sole discretion, shall have the right but not
the obligation to terminate this Agreement and shall have no obligations under this
Agreement for the year in respect to which said unappropriated funds relate.
(4) To the extent there is a conflict of this Section and any other language or covenants in
this Agreement, this Section 3 shall control.
Section 4. Time of Comizletion
The prompt completion of the Work under the Scope of Work relates is critical to the City.
Unnecessary delays in providing Work under a Scope of Work shall be grounds for dismissal of
the Contractor and termination of this Agreement without any or further liability to the City other
than a prorated payment for necessary, timely, and conforming work done by Contractor prior to
the time of termination.
Section 5. Insurance
Before commencing work under this Agreement, Contractor shall obtain and maintain the liability
insurance provided for below throughout the term of the Project plus an additional two years.
Contractor shall provide evidence of such insurance to the City. Such documentation shall meet
the requirements noted in Exhibit B.
Contractor shall maintain the following limits and types of insurance:
Workers Compensation Insurance: Contractor shall carry and maintain during the term of this
Agreement, workers compensation and employers liability insurance meeting the requirements of
the State of Texas on all the Contractor's employees carrying out the work involved in this
contract.
General Liability Insurance: Contractor shall carry and maintain during the term of this
Agreement, general liability insurance on a per occurrence basis with limits of liability not less
than $1,000,000 for each occurrence and for fire damage. For Bodily Injury and Property Damage,
coverage shall be no less than $1,000,000. As a minimum, coverage for Premises, Operations,
Products and Completed Operations shall be $2,000,000. This coverage shall protect the public or
any person from injury or property damages sustained by reason of the Contractor or its employees
carrying out the work involved in this Agreement. The general aggregate shall be no less than
$2,000,000.
CITY of SCHERTZ PAGE 2
Avant Strategic Partners L.P. Service Agreement
Automobile Liability Insurance: Contractor shall carry and maintain during the term of this
Agreement, automobile liability insurance with either a combined limit of at least $1,000,000 per
occurrence for bodily injury and property damage or split limits of at least $1,000,000 for bodily
injury per person per occurrence and $1,000,000 for property damage per occurrence. Coverage
shall include all owned, hired, and non -owned motor vehicles used in the performance of this
contract by the Contractor or its employees.
Subcontractor: In the case of any work sublet, the Contractor shall require subcontractor and
independent contractors working under the direction of either the Contractor or a subcontractor to
carry and maintain the same workers compensation and liability insurance required of the
Contractor.
Qualifying Insurance: The insurance required by this Agreement shall be written by non - assessable
insurance company licensed to do business in the State of Texas and currently rated "B +" or better
by the A.M. Best Companies. All policies shall be written on a "per occurrence basis" and not a
"claims made" form.
Evidence of such insurance shall be attached as Exhibit "C ".
Failure of Certificate Holder to demand a certificate or other evidence of full compliance with these
insurance requirements or failure of Certificate Holder to identify a deficiency from evidence that is
provided will not be construed as a waiver of Insured's obligation to maintain such insurance.
Section 6. Miscellaneous Provisions
(A) Subletting. The Contractor shall not sublet or transfer any portion of the work under this
Agreement or any Scope of Work issued pursuant to this Agreement unless specifically
approved in writing by the City, which approval shall not be unreasonably withheld.
Subcontractors shall comply with all provisions of this Agreement and the applicable Scope
of Work. The approval or acquiescence of the City in the subletting of any work shall not
relieve the Contractor of any responsibility for work done by such subcontractor.
(B) Compliance with Laws. The Contractor shall comply with all federal, state and local laws,
statutes, ordinances, rules and regulations, and the orders and decrees of any courts,
administrative, or regulatory bodies in any matter affecting the performance of this
Agreement, including, without limitation, worker's compensation laws, minimum and
maximum salary and wage statutes and regulations, and licensing laws and regulations. When
required, the Contractor shall furnish the City with satisfactory proof of compliance.
(C) Independent Contractor. Contractor acknowledges that Contractor is an independent
contractor of the City and is not an employee, agent, official or representative of the City.
Contractor shall not represent, either expressly or through implication, that Contractor is an
employee, agent, official or representative of the City. Income taxes, self - employment taxes,
social security taxes and the like are the sole responsibility of the Contractor.
(D) Non - Collusion. Contractor represents and warrants that Contractor has not given, made,
promised or paid, nor offered to give, make, promise or pay any gift, bonus, commission,
money or other consideration to any person as an inducement to or in order to obtain the work
to be provided to the City under this Agreement. Contractor further agrees that Contractor
CITY OF SCHERTZ PAGE 3
Avant Strategic Partners L.P. Service Agreement
shall not accept any gift, bonus, commission, money, or other consideration from any person
(other than from the City pursuant to this Agreement) for any of the Work performed by
Contractor under or related to this Agreement. If any such gift, bonus, commission, money,
or other consideration is received by or offered to Contractor, Contractor shall immediately
report that fact to the City and, at the sole option of the City, the City may elect to accept the
consideration for itself or to take the value of such consideration as a credit against the
compensation otherwise owing to Contractor under or pursuant to this Agreement.
(E) Force Majeure. If the performance of any covenant or obligation to be performed hereunder
by any party is delayed as a result of circumstances which are beyond the reasonable control
of such party (which circumstances may include, without limitation, pending litigation, acts
of God, war, acts of civil disobedience, fire or other casualty, shortage of materials, adverse
weather conditions [such as, by way of illustration and not of limitation, severe rain storms or
below freezing temperatures, or tornados] labor action, strikes or similar acts, moratoriums or
regulations or actions by governmental authorities), the time for such performance shall be
extended by the amount of time of such delay, but no longer than the amount of time
reasonably occasioned by the delay. The party claiming delay of performance as a result of
any of the foregoing force majeure events shall deliver written notice of the commencement
of any such delay resulting from such force majeure event not later than seven (7) days after
the claiming parry becomes aware of the same, and if the claiming party fails to so notify the
other party of the occurrence of a force majeure event causing such delay and the other parry
shall not otherwise be aware of such force majeure event, the claiming party shall not be
entitled to avail itself of the provisions for the extension of performance contained in this
subsection.
(F) Conflict of Terms.
Scope of work:
In the case of any conflicts between the terms of this Agreement within the Scope of Work,
this Agreement shall govern. The Scope of Work is intended to detail the technical scope of
Work, fee schedule, and contract time only and shall not dictate Agreement terms.
Other Agreements between parties:
In the case of any conflicts between the terms of this Agreement and wording contained within
any other attachment, amendment, and agreement executed between the parties in conjunction
with this Agreement, this Agreement shall govern.
(G) Non - Boycott of Israel. Pursuant to Section 2270.002 of the Texas Government Code,
Contractor certifies that either (i) it meets an exemption criterion under Section 2270.002; or
(ii) it does not boycott Israel and will not boycott Israel during the term of the contract
resulting from this solicitation. Contractor shall state any facts that make it exempt from the
boycott certification as an attachment to this agreement.
Relevant definitions from the bill:
"Company" means a for -profit sole proprietorship, organization, association, corporation,
partnership, joint venture, limited partnership, limited liability partnership, or limited liability
company, including a wholly owned subsidiary, majority -owned subsidiary, parent company,
or affiliate of those entities or business associations that exists to make a profit.
CITY OF SCHERTZ PACE 4
Avant Strategic Partners L.P. Service Agreement
"Boycott Israel" means refusing to deal with, terminating business activities with, or otherwise
taking any action that is intended to penalize, inflict economic harm on, or limit commercial
relations specifically with Israel, or with a person or entity doing business in Israel or in an
Israeli - controlled territory, but does not include an action made for ordinary business
purposes.
Section 7. Termination
(A) This Agreement may be terminated:
(1) By the mutual agreement and consent of both Contractor and City;
(2) By either parry, upon the failure of the other party to fulfill its obligations as set forth
in either this Agreement or a Scope of Work issued under this Agreement;
(3) By the City, immediately upon notice in writing to the Contractor, as consequence of
the failure of Contractor to perform the Work contemplated by this Agreement in a
timely or satisfactory manner;
(4) By the City, at will and without cause upon not less than five (5) days written notice
to the Contractor.
(B) If the City terminates this Agreement pursuant to subsection 7(A)(2) or (3), above, the
Contractor shall not be entitled to any fees or reimbursable expenses other than the fees and
reimbursable expenses then due and payable as of the time of termination and only then for
those Work that have been timely and adequately performed by the Contractor considering
the actual costs incurred by the Contractor in performing work to date of termination, the
value of the work that is nonetheless usable to the City, the cost to the City of employing
another Contractor to complete the work required and the time required to do so, and other
factors that affect the value to the City of the work performed at time of termination. In the
event of termination not the fault of the Contractor, the Contractor shall be compensated for
all basic, special, and additional Work actually performed prior to termination, together with
any reimbursable expenses then due.
Section 8. Indemnification
CONTRACTOR AGREES TO INDEMNIFY AND HOLD THE CITY OF SCHERTZ, TEXAS AND ALL OF ITS
PRESENT, FUTURE AND FORMER AGENTS, EMPLOYEES, OFFICIALS AND REPRESENTATIVES
HARMLESS IN THEIR OFFICIAL, INDIVIDUAL AND REPRESENTATIVE CAPACITIES FROM ANY AND
ALL CLAIMS, DEMANDS, CAUSES OF ACTION, JUDGMENTS, LIENS AND EXPENSES (INCLUDING
ATTORNEY'S FEES, WHETHER CONTRACTUAL OR STATUTORY), COSTS AND DAMAGES (WHETHER
COMMON LAW OR STATUTORY), COSTS AND DAMAGES (WHETHER COMMON LAW OR
STATUTORY, AND WHETHER ACTUAL, PUNITIVE, CONSEQUENTIAL OR INCIDENTAL), OF ANY
CONCEIVABLE CHARACTER, FOR INJURIES TO PERSONS (INCLUDING DEATH) OR TO PROPERTY
(BOTH REAL AND PERSONAL) CREATED BY, ARISING FROM OR IN ANY MANNER RELATING TO THE
WORK OR GOODS PERFORMED OR PROVIDED BY CONTRACTOR— EXPRESSLY INCLUDING THOSE
ARISING THROUGH STRICT LIABILITY OR UNDER THE CONSTITUTIONS OF THE UNITED STATES.
CITY OF SCHERTZ PAGE 5
Avant Strategic Partners L.P. Service Agreement
Section 9. Notices
Any notice required or desired to be given from one party to the other party to this Agreement
shall be in writing and shall be given and shall be deemed to have been served and received
(whether actually received or not) if (i) delivered in person to the address set forth below; (ii)
deposited in an official depository under the regular care and custody of the United States Postal
Service located within the confines of the United States of America and sent by certified mail,
return receipt requested, and addressed to such party at the address hereinafter specified; or (iii)
delivered to such party by courier receipted delivery. Either party may designate another address
within the confines of the continental United States of America for notice, but until written notice
of such change is actually received by the other party, the last address of such party designated for
notice shall remain such party's address for notice.
Section 10. No Assif,�nment
Neither party shall have the right to assign that party's interest in this Agreement without the prior
written consent of the other party.
Section 11. Severabilih,
If any term or provision of this Agreement is held to be illegal, invalid or unenforceable, the
legality, validity or enforceability of the remaining terms or provisions of this Agreement shall not
be affected thereby, and in lieu of each such illegal, invalid or unenforceable term or provision,
there shall be added automatically to this Agreement a legal, valid or enforceable term or provision
as similar as possible to the term or provision declared illegal, invalid or unenforceable.
Section 12. Waiver
Either City or the Contractor shall have the right to waive any requirement contained in this
Agreement that is intended for the waiving party's benefit, but, except as otherwise provided
herein, such waiver shall be effective only if in writing executed by the party for whose benefit
such requirement is intended. No waiver of any breach or violation of any term of this Agreement
shall be deemed or construed to constitute a waiver of any other breach or violation, whether
concurrent or subsequent, and whether of the same or of a different type of breach or violation.
Section 13. Governing Law.- Venue
This Agreement and all of the transactions contemplated herein shall be governed by and construed
in accordance with the laws of the State of Texas. The provisions and obligations of this
Agreement are performable in Guadalupe County, Texas such that exclusive venue for any action
arising out of this Agreement shall be in Guadalupe County, Texas.
Section 14. Para,_,raph Headim,,s; Construction
The paragraph headings contained in this Agreement are for convenience only and shall in no way
enlarge or limit the scope or meaning of the various and several paragraphs hereof. Both parties
have participated in the negotiation and preparation of this Agreement and this Agreement shall
not be construed either more or less strongly against or for either party.
Section 15. Bindinx,, Effect
Except as limited herein, the terms and provisions of this Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective heirs, devisees, personal and legal
representatives, successors and assigns.
CITY OF SCHERTZ PAGE 6
Avant Strategic Partners L.P. Service Agreement
Section 16. Gender
Within this Agreement, words of any gender shall be held and construed to include any other
gender, and words in the singular number shall be held and construed to include the plural, unless
the context otherwise requires.
Section 17. Counterparts
This Agreement may be executed in multiple counterparts, each of which shall be deemed an
original, and all of which shall constitute but one and the same instrument.
Section 18. Exhibits & Attachments
All exhibits and attachments to this Agreement are incorporated herein by reference for all
purposes wherever reference is made to the same.
Section 19. Entire A -ureement
It is understood and agreed that this Agreement contains the entire agreement between the parties
and supersedes any and all prior agreements, arrangements or understandings between the parties
relating to the subject matter. No oral understandings, statements, promises or inducements
contrary to the terms of this Agreement exist. This Agreement cannot be changed or terminated
orally.
Section 20. Relationshi, of Parties
Nothing contained in this Agreement shall be deemed or construed by the parties hereto or by any
third party to create the relationship of principal and agent or of partnership or of joint venture or
of any association whatsoever between the parties, it being expressly understood and agreed that
no provision contained in this Agreement nor any act or acts of the parties hereto shall be deemed
to create any relationship between the parties other than the relationship of independent parties
contracting with each other solely for the purpose of effecting the provisions of this Agreement.
Section 21. Ri�:ht To Audit
City shall have the right to examine and audit the books and records of Contractor with regards to
the work described in Exhibit A, or any subsequent changes, at any reasonable time. Such books
and records will be maintained in accordance with generally accepted principles of accounting and
will be adequate to enable determination of: (1) the substantiation and accuracy of any payments
required to be made under this Agreement; and (2) compliance with the provisions of this
Agreement.
Section 22. Dispute Resolution
In accordance with the provisions of Subchapter 1, Chapter 271, TEx. LOCAL Gov'T CODE, the
parties agree that, prior to instituting any lawsuit or other proceeding arising from a dispute under
this agreement, the parties will first attempt to resolve the dispute by taking the following steps:
(1) A written notice substantially describing the nature of the dispute shall be delivered by the
dissatisfied party to the other party, which notice shall request a written response to be delivered
to the dissatisfied party not less than 5 days after receipt of the notice of dispute. (2) If the response
does not reasonably resolve the dispute, in the opinion of the dissatisfied party, the dissatisfied
party shall give notice to that effect to the other party whereupon each party shall appoint a person
having authority over the activities of the respective parties who shall promptly meet, in person,
in an effort to resolve the dispute. (3) If those persons cannot or do not resolve the dispute, then
CITY OF SCHERTZ PAGE 7
Avant Strategic Partners L.P. Service Agreement
the parties shall each appoint a person from the highest tier of managerial responsibility within
each respective party, who shall then promptly meet, in person, in an effort to resolve the dispute.
Section 23. Disclosure of Business Relationshills /Affiliations: Conflict of Interest
�� uestionnaire
Contractor represents that it is in compliance with the applicable filing and disclosure requirements
of Chapter 176 of the Texas Local Government Code.
Certificate of Interested Parties
Effective January 1, 2016, pursuant to House Bill 1295 passed by the 84th Texas Legislature
(Section 2252.908, Texas Government Code, as amended) and formal rules released by the Texas
Ethics Commission (TEC), all contracts with private business entities requiring approval by the
Schertz City Council will require the on -line completion of Form 1295 "Certificate of Interested
Parties." Form 1295 is also required for any and all contract amendments, extensions or renewals.
Contractors are required to complete and file electronically with the Texas Ethics Commission
using the online filing application.
Please visit the State of Texas Ethics Commission website,
htt-.)s://www.ethics.state.tx.us/whatsnew/elf info form1295.htm and
htt.)s: / /www. ethics .state.tx.us /tec /1295 - Info.htm for more information.
IF YOU HAVE ANY QUESTIONS ABOUT COMPLIANCE, PLEASE CONSULT YOUR
OWN LEGAL COUNSEL. COMPLIANCE IS THE INDIVIDUAL RESPONSIBILITY OF
EACH PERSON OR AGENT OF A PERSON WHO IS SUBJECT TO THE FILING
REQUIREMENT. AN OFFENSE UNDER CHAPTER 176 IS A CLASS C MISDEMEANOR.
[The remainder of this page is intentionally left blank]
CITY of SCHERTZ PAGE 8
Avant Strategic Partners L.P. Service Agreement
EXECUTED on this the day of )20—.
CITY:
By:
Name: Dr. Mark Browne
Title: City Manager
ADDRESS FOR NOTICE:
CITY:
City of Schertz
Attn: Dr. Mark Brown, City Manager
1400 Schertz Parkway
Schertz, Texas 78154
CONTRACTOR:
By:
co-
Narne:
Title:
Teresa E. Clune
Partner
CONTRACTOR:
Avant Strategic Partners, LP
PO Box 26765
Overland Park, KS 66225
CITY OF SCHERTZ PAGE 9
Avant Strategic Partners L.P. Service Agreement
Exhibit "A"
SCOPE OF WORK
Projec
Contractor shall provide consultant services for the purpose of assisting the City in determining
the non- purpose arbitrage liability, and to monitor other post- issuance compliance obligations.
Scope of Work
These services will be delivered through use of Contractor's client portal, BondIQ, and will be
provided for the bond issues detailed below, as well as subsequent issues by the City, at the City's
request.
Consultant shall:
1. Assist the City in developing post issuance compliance policies and procedures that will
be reviewed and updated annually or as otherwise appropriate.
2. Maintain a "Bond Summary" for each issue that summarizes pertinent facts related to
ongoing compliance that will be reviewed on an annual basis and updated, asnecessary.
3. Analyze the bond issue transactions in accordance with the arbitrage provisions contained
in Section 148 of the Internal Revenue Code (the "Code ").
4. Read applicable sections of selected bond documents to determine relevant tax compliance
requirements and data necessary for the arbitrage computations.
5. Re- compute the bond yield and agree the results to the relevant bond documents.
d. Calculate the amount of non - purpose arbitrage liability.
7. Issue a detailed electronic arbitrage calculation report to disclose and explain our
conclusions.
8. Issue an IRS Form 8038 -T with instructions if an arbitrage payment is due.
9. For bonds with spent proceeds, monitor debt service fund depletion on an annual basis to
verify the bona fide exclusion from the arbitrage calculation.
10. Assist City personnel in preparing a final allocation of proceeds for each bond issue.
11. Issue periodic alerts and reminders via email of pending due dates for post issuance
compliance requirements such as annual disclosure of financial and operating information
on EMMA
12. Periodically gather and monitor information regarding post issuance compliance activities
through the use of surveys to determine if there are any material events that require
disclosure and to monitor any private and /or change in use issues.
13. Establish links to annual disclosure information on EMMA and store dissemination
confirmations as provided by the City.
14. Coordinate with City personnel to acquire and retain records relevant to ongoing tax
compliance, including transcripts, investment and expenditure activity for each bond issue.
15. Provide virtual BondIQ orientation training for City personnel and include relevant tax
and security regulation topics.
CITY OF SCHERTZ PAGE 9
Avant Strategic Partners, L.P. Service Agreement
16. Maintain secured electronic access for up to five (5) standard users on our client portal
system, currently branded as BondlQ.
Contractor will be responsible for post issuance compliance services including arbitrage
calculations and monitoring services as detailed below in Attachment I.
The City is responsible for making available to Contractor all financial records and related
information and personnel with information of relevance to requested services. Contractor
anticipates providing the City with calculation results within 45 days of the calculation date,
dependent upon Contractor receipt of timely and complete information from the City. The City
will submit the majority of information within 15 days of each computation and substantially all
needed information within 30 days.
This is not an engagement for legal representation and does not create an attorney- client
relationship. Contractor report will state that it is restricted to the parties named therein and may
not be used or referred to for any other purpose.
The working papers prepared in conjunction with Contractor work are the property of Contractor,
constitute confidential and proprietary information, and will be retained by Contractor.
Price
Billing for post issuance compliance monitoring services will be based on Contractor's standard
subscription rates. The term of each annual subscription cycle will mirror the City's fiscal year
(October I st through September 30th). Initial billing for each bond will include fees for initial
setup and will include the first subscription period to commence October 1, 2020 as scheduled in
Attachment I.
The billing for calculation services will be for the actual time and materials incurred based on
Contractor's standard billing rates. Any out -of- pocket expenses (i e., travel costs) will be billed at
the actual amounts incurred. Interim billings will be submitted as work progresses, and invoices
are due in accordance with the Texas Prompt Pay Act. Fees may exceed estimate below depending
on the specifics of City's bond issues and the required detailed calculations and analyses that must
be made. In the event that Contractor anticipates fees will exceed estimate, Contractor shall notify
the City in advance. If the need arises, fees for private use of proceeds calculations will be quoted
separately.
In the event that the City is selected for examination by the IRS. Contractor will provide separate
proposal to present services and fees.
CITY of SCHERTZ PAGE 10
Avant Strategic Partners, L.P. Service Agreement
Next COIC
Issue Delivery Date Date
Outstanding Tax Exempt Bonds:
Final
Maturity S-Pe Notes 2020 2021 2022
ATTACHMENT I
2023 2524
$6,000,000 GO
9/24/2007
9/30/2021
211/2027
B
private placement
1,500
Series 2007
$8,250,000 GO
4/26/2011
9/30/2020
2/1/2036
B
1,500
Series 2011
$2,675,000 GO Ref
6/30/2011
9/30/2020
9/1/2021
B
adv refunded portion of
1,500
Series 2011
Series 2001
$6,745,000 GO Ref
12/15/2011
9/30/2021
2/1/2024
B
adv refunded 2003/2004
1,500
Series 2011A
$7,625,000 GO
9/13/2012
9/30/2021
2/1/2032
B
1,500
Series 2012
$4,965,000 CO
10/10/2013
9/30/2023
2/1/2033
B
for tax purposes single
1,500
Series 2013
issue GO and CO 2013
$2,060,000 GO Ref
10/10/2013
9130/2023
2/1/2025
B
see above; private
Series 2013
placement; refunded CO
$8,450,000 GO Ref
6/26/2014
9/30/2023
2/1/2030
B
adv refunded GO Series
1,500
Series 2014
2006
$2,125,000Tax
1/8/2015
9/30/2024
8/1/2021
B
private placement
11500
Notes Series 2015
$1,020,000Tax
11/19/2015
9/30/2020
B
1,500
Notes Series 2015A
$4,185,000 GO
11/17/2015
9/30/2020
2/1/2031
8
current refunded GO
1,500
Series 2015
Series 2006
$5,880,000 GO
9/1/2016
9/30/2020
2/1/2036
8
fortax purposes single
1,500
Series 2016
Issue GO and CO 2016
$2,375,ODO CO
9/1/2016
9/30/2020
2/1/2036
B
see above
Series 2016
1,500
$3,935,000 GO 6/20/2017 9/30/2021 2/1/2037 B for tax purposes single
Series 2017
issue GO and CO 2017
$5,475,000 CO
6/20/2017
9/30/2021
2/1/2037
B
see above
Series 2017
$6,035,000 GO Ref
1/4/2018
9/30/2022
2/1/2028
B
private placement, adv
1,500
Series 2018
refunded GO 2008
$10,440,000 CO
8/8/2018
9/30/2022
2/1/2038
8
500
1,500
Series 2018
$8,570,000 GO Ref
11/27/2018
9/30/2023
2/1/2033
B
current refunded CO
500
1,500
Series 2018
2007, GO 20M and GO
$7,495,000 CO
8/21/2019
9/30/3023
2/1/2039
B
500
1,500
Series 2019
Ned Cale Final
1,500
Issue Delivery Date Date Maturity
scope
Retired Issues:
$9,500,000 GO 8/13/2009 2/1/2019 2/1/2033
_
A current
Series 2009
MM of
$2,865,O0OGORef 11/30/2010 2/1/2019 211/2021
A current
Series 2010
i
of Serle
Debt Service Fund Testing
C
Virtual Post Issuance Compliance Training
D
BondlQ Annual Monitoring
E
Revised reports GO Series 2006, 2007, 2008 and 2009
F
ATTACHMENT 1
Notes 2020 2021 2022 2on M
refunded $2.9
30 Series 98
1,500
refunded portion
s2001
1,500
500
500
500,
500
500'
2,500
2,500
2,500
2,500
2,500
4,000
Yearlytotals: $ 15,000 $ 9,000 $ 6,000 $ 9,000 $ 4,500
Scope of Wark;
A. Issue past due for arbitrage calculation, establish final allocation & issue report.
B. Setup in BondlQ during 2020 if new issue, and perform calculations at 5 year anniversary foreach issue.
C. Test all I &S funds annually to verify depletion and status as bona fide debt service fund ( "BDSF" ). Proceeds
Ina BDSF are generally exempt from arbitrage rules.
D. Avant will provide a virtual overview of post issuance compliance and BondlQ.
E. See BondlQ Annual Monitoring Service Below.
F. If necessary, revise historical reports for data revisions @ 1K per Series.
BondIQ Annual Monitoring Service:
Set -up new bond issues and update Bond Summaries as needed.
Review /update policies & procedures as requested.
Administer annual compliance questionnaire.
Assist with final allocations of proceeds for completed projects.
Capture annual and quarterly continuing disclosure confirmations.
Administer periodic Material Events questionnaire.
in positive arbitrage environment, expenditure tracking
to monitortimely spend -down of proceeds.
Capture and retain relevant records.
Provide access for five (5) standard users.
Fees for final calculations not in the 5th bond year will be 1K.
Exhibit "B"
REQUIREMENTS FOR ALL INSURANCE DOCUMENTS
The Contractor shall comply with each and every condition contained herein. The Contractor shall provide and maintain the
minimum insurance coverage set forth below during the term of its agreement with the City, Any Subcontractor(s) hired by
the Contractor shall maintain insurance coverage equal to that required of the Contractor. It is the responsibility of the
Contractor to assure compliance with this provision, The City of Schertz accepts no responsibility arising from the conduct,
or lack of conduct, of the Subcontractor.
INSTRUCTIONS FOR COMPLETION OF INSURANCE DOCUMENT
With reference to the foregoing insurance requirements, Contractor shall specifically endorse applicable insurance policies
as follows:
1. The City of Schertz shall be named as an additional insured with respect to General Liability and Automobile
Liability on a swarate endorsement.
2. A waiver of subrogation in favor of The City of Schertz shall be contained in the Workers Compensation and all
liability policies and must be provided on a separate endorsement.
3. All insurance policies shall be endorsed to the effect that The City of Schertz will receive at least thirty (30) days
written notice prior to cancellation or non - renewal of the insurance.
4. All insurance policies, which name The City of Schertz as an additional insured, must be endorsed to read as primary
and non - contributory coverage regardless of the application of other insurance.
5. Chapter 1811 of the Texas Insurance Code, Senate Bill 425 82(R) of 2011, states that the above endorsements
cannot be on the certificate of insurance. Separate endorsements must be provided for each of the above.
6. All insurance policies shall be endorsed to require the insurer to immediately notify The City of Schertz of any
material change in the insurance coverage.
7. All liability policies shall contain no cross liability exclusions or insured versus insured restrictions.
8. Required limits may be satisfied by any combination of primary and umbrella liability insurances.
9. Contractor may maintain reasonable and customary deductibles, subject to approval by The City of Schertz.
10. Insurance must be purchased from insurers having a minimum AmBest rating of B +.
11. All insurance must be written on forms filed with and approved by the Texas Department of Insurance. (ACORD
25 2010/05). Coverage must be written on an occurrence form.
12. Contractual Liability must be maintained covering the Contractors obligations contained in the contract. Certificates
of Insurance shall be prepared and executed by the insurance company or its authorized agent and shall contain
provisions representing and warranting all endorsements and insurance coverages according to requirements and
instructions contained herein.
13. Upon request, Contractor shall furnish The City of Schertz with certified copies of all insurance policies.
14. A valid certificate of insurance verifying each of the coverages required above shall be issued directly to the City
of Schertz within ten (10) business days after contract award and prior to starting any work by the successful
Contractor's insurance agent of record or insurance company. Also, prior to the start of any work and at the same
time that the Certificate of Insurance is issued and sent to the City of Schertz, all required endorsements identified
in sections A, B, C and D, above shall be sent to the City of Schertz. The certificate of insurance and endorsements
shall be sent to:
City of Schertz
Purchasing Department
1400 Schertz Parkway
Schertz, TX 78154
CITY OF SCHERTZ
Avant Strategic Partners L.P. Service Agreement
emailed to: r ;urchasin-,, ra:,schertz.com
Faxed to: 210 -619 -1169
PAGE 11
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SHOUuu ILNY OF TIM A1IWA DILMiIOPO MI+` 4 "0 CARORLt 4100Of0h1.'
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The A001to name anti f opo era roalatetotl rrter►tsa of ACORD
CITY OF SCHERTZ PAGE 12
Avant Strategic Partners L.P. Service Agreement
(Instructions for completing and submitting a certificate to the City of Schertz)
Com.Jete the certificate of insurance with the information listed below:
A) Certificate of Insurance date
B) Producer (Insurance Agency) Information — complete name, address, telephone information, & email address.
C) Insured's (Insurance Policy Holder) Information — complete name & address information
D) Insurer (name /names of insurance company) * *(Remember the city requires all insurance companies to be
Authorized to do business in the State of Texas be rated by A.M. Best with a rating of B+ (or better) Class VI (or
higher) or otherwise be acceptable to the City if not rated by A.M. Best)
E) NAIC # (National Association of Insurance Commissioners, a # that is assigned by the State to all insurance
companies)
F) Insurer letter represents which insurance company provides which type of coverage from D
G) General Liability Insurance Policy — must have an (x) in box. Also, "Occurrence" type policy — must have an (x) in
the box (occurrence policy preferred but claims made policy can be accepted with special approval)
H) This section shall be filled in with "Y" for yes under Additional Insured for all coverages, except for Contractor
Liability and Workers' Compensation. There shall also be a "Y" for yes under all coverages for subrogation waived.
I) Automobile Liability Insurance — must be checked for Any Auto, All Owned Autos, Hired Autos
J) Umbrella Coverage — must be checked in this section and by occurrence whenever it is required by written contract
and in accordance with the contract value.
K) Worker's Compensation and Employers Liability Insurance — information must be completed in this section of the
certificate of insurance form (if applicable).
L) Builder's Risk Policy — for construction projects as designated by the City of Schertz.
Professional Liability Coverage — for professional services if required by the City of Schertz.
M) Insurance Policy #'s
N) Insurance policy effective dates (always check for current dates)
O) Insurance Policy limits (See Insurance Requirements Checklist)
P) This section is to list projects, dates of projects, or location of project. Endorsements to the insurance policy(ies)
must be provided separately and not in this section. The following endorsements are required by the City of Schertz.
(1) Adding the City of Schertz as an additional insured. The "additional insured" endorsement is not required for
professional liability and workers compensation insurance; and
(2) Waiver of Subrogation
(3) Primary and Non - Contributory
(4) Cancellation Notice
Q) City of Schertz's name and address information must be listed in this section
R) Notice of cancellation, non - renewal, or material change to the insurance policy(ies) must be provided to the City of
Schertz in accordance with a cancellation notice endorsement to the policy and/or per the policy provisions based
on the endorsement adding the city as an additional insured. (Sec. 1811.155, Tex. Ins. Code)
S) The certificate must be signed by the Authorized Agent in this section of the certificate form.
CITY OF SCHERTZ PAGE 13
Avant Strategic Partners L.P. Service Agreement
Exhibit "C"
EVIDENCE OF INSURANCE
CITY OF SCHERTZ PAGE 14
Avant Strategic Partners L.P. Service Agreement
A4 ° °® CERTIFICATE OF LIABILITY INSURANCE DA 021 � 20
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS
CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES
BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED
REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.
IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If
SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this
certificate does not confer rights to the certificate holder In lieu of such endorsement(s).
PRODUCER [CONTACT -
AOn Risk services, Inc. Of Florida NAME.
13901 Sutton Park Drive south IaG,N! ,E,cO; (866) 283 -7122 (A/ 800- 363 -0105
(AC. NoJ:
suite 360 - Building C E-MAIL
Jacksonville FL 32224 USA ADDRESS:
Avant strategic Partners, LP
PO Box 26765
Overland Park KS 66225 -6765 USA
INSURER(S) AFFORDING COVERAGE NAIC 9
INSURER A: Federal Insurance Company 120281
INSURER B: Fi remans Fund Ins Co 121873
INSURER C:
INSURER D:
INSURER E:
INSURER F:
NUMBER: 570080610392
ISION NUMBER!
d
ar
w
c
'DSO
d
32
0
S
THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD
INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS
CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS,
EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. Limits shown are as renuested
LT.
TYPE OF INSURANCE j I
O
POLICY NUMBER
PGLICYIEXF
LBAITS
X COMMERCIAL GENERAL LIABILITY
35915151341cl
U3101/2UZD
EACHOCCURtiENCE
$110001000
CLAIMS -MADE X❑ OCCUR
PREMt ES iEA ' unr•,ui
$1,000,000
PAED EXP,Ar., ono r-w,,
551000
PE+tSONAL a ADw nCIL.r..
$1,0001000
GEN'L AGGREGATE LIMITAPPLIES PER:
$2,000,000
0
GENERAL AGGREGATT
% POLICY ❑ SECT LOC
m
PRODUCTS - COMP,rOPAGG
Included
OTHER:
n
A
AUTOMOBILE LIABILITY
C20) 7498 -23 -64
03/01/2020'
03/01/2021
COMBINED SINGLE LIMIT
zcA n,
$1,000,000
N
BODILY INJURY ( Per person)
ANYAUTO
BODILY INJURY (Per acciden;)
OWNED SCHEDULED
AUTOS ONLY AUTOS
X HIRED AUTOS x NON -CWNED
ONLY AUTOS ONLY
J
d
y
PROPERTY DAMAGE
Peraccidentl
Comp./Coll.Deductible
$500
B
UMBRELLA LIAB X OCCUR
USL0 768201
0
0310112021
EACH OCCURRENCE
$2,00 1000
U
X EXCESS LIAB CLAIMS -MADE
AGGREGATE
$2,000,000
DED [RETENTION
A
WORKERS COMPENSATION AND
EMPLOYERS' LIABILITY YIN
ANY PROPRIETOR /PARTNER /EXECUTIVE
OFFICERIMEMBER EXCLUDED? N N/A
(Mandatory lnNH)
2171757496
u3101f2020
2
X PERSTATUTE 0TH-
R
E.L. EACHACCIDENT
-
$1,000,000
E.L. DISEASE -EA EMPLOYEE
$1,000,000
II yyea, describe under
DESORIPTIONOF OPERATIONS below
E.L. DISEASE - POLICY LIMIT
$1,000,000—
Ni
i
DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 161, Additional Remarks Schedule, may be attached If more space Is required)
city of Schertz Texas is included as Additional insured in accordance with the policy provisions of the General Liability
policy. General Liability policy evidenced herein is Primary and Non- Contributory to other insurance available to an
Additional Insured, but only in accordance with the policy's provisions. A waiver of Subrogation is granted in favor of
certificate Holder in accordance with the policy provisions of the General Liability policy.
CERTIFICATE HOLDER
city of Schertz, Texas
1400 Schertz Parkway
Schertz TX 78154 USA
CANCELLATION
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE
EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE
POLICY PROVISIONS.
AUTHORIZED REPRESENTATIVE
. Qg:: a YY y'.V f ✓9M- e�Mla
0198 8-2015 ACORD CORPORATION. All rights reserved.
ACORD 25 (2016 /03) The ACORD name and logo are registered marks of ACORD
A4COSP CERTIFICATE OF LIABILITY INSURANCE DATE
�MIDDIYYVY)
06/17/2020
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS
CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES
BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED
REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.
IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(les) must be endorsed. If SUBROGATION IS WAIVED, subject to the
terms and conditions of the policy, certain policies may require an endorsement, A statement on this certificate does not confer rights to the
certificate holder in lieu of such endorsement(s).
PRODUCER -
NAME:
McGowanPRO PHONE
150 Speen Street EMn`I �� ! IsO. 5Q6�756 - -13QD LA. Nol _SDtl�56 ]399
ADDRESS: _ _
Suite 102 �- IN_SURER[5) AFFORDING COVERAGE NAIL p
Framingham, MA. 01701 INSURERA _ Hanover- Insurance Co. 122292
INSURED INSURER B.:
Avant Strategic Partners =
P.O. Box 26765 INSURER c
Overland Park, KS 66225 NSUreER O.
INSURER E
INSURER F :
GUVEKAGtZ GtK I II-IL:A I E NUMBEK:
REVIbIQN NUMBER:
THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD
INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF
ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS
CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS,
EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
iNSR ADUU ER"
UTR TYPE OF INSURANCE ,y { POLICY NUMBER _
— --
POLICY EFF POLICY EXP
° t lmgp r err �MM(DDlYYYY. i OMITS
GENERAL LIABILITY
I EACH OCCURRENCE S
-
COMMERCIAL GENERAL LIABILITY
F-
I i5>IF�AGE TO R�RTEO
PREMISES ISES Ea occurrence $
CLAIMS -MADE FI OCCUR
` MED EXP (Any one person) $
i
I
I PERSONAL & ADV INJURY-
GENERAL AGGREGATE $ _
GEN'LAGGREGATE LIMIT APPLIES PER: I
PRODUCTS - COMP/OPAGG $�
POLICY _ PRO- '^ LOC
AUTOMOBILE LIABILITY `
r
— — --
— I 1 . FN;:DSINGL l�lIT
Es accident $
ANY AUTO
1 BODILY INJURY (Per person) $
i ALL OWNED SCHEDULED
AUTOS AUTOS
BODILY INJURY (Per accident) S
NON -OWNED
_
I PROPERTY DAMAGE $
HIRED AUTOS AUTOS
_Iperaccident
1 $
UMBRELLA LIAB OCCUR
EXCE55 LIAB n[ AIMA
DED RETENTION $ I
WORKERS COMPENSATION j
AND EMPLOYERS' UABIUTY YIN I
ANY PROPRIErORMARTNERIEXECUTIVE
OFFICFIMEMBER EXCLUDED? N 1 A
(Mandatory In NH)
If yes, describe under
A , Professional ! LHN D558589 02
Liability I F.i
I EACH OCCURRENCE
AGGREGATE
STATU
OT H-
I Y LIMITS S I ER
E.L. EACH ACCIDENT $
E.L. DISEASE - EA_EMPLOYE= $
E.L. DISEASE - POLICY LIMIT $
104/27/2020 04/27/2021 , Limit of Liability: $2,000,000
Aggregate: $2,000,000
DESCRIPTION OF OPERATIONS I LOCATIONS I VEHICLES (Attach ACORD 101, Additional Remarks Schedule, U more space is required)
CERTIFICATE HOLDER
City of Schertz, Texas
1400 Schertz Parkway
Schertz, TX 78154
CANCELLATION
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE
THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN
ACCORDANCE WITH THE POLICY PROVISIONS.
O 1986 -2010 ACORD CORPORATION. All rights reserved.
ACORD 25 (2010/05) The ACORD name and logo are registered marks of ACORD