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Council approves contract with Hilltop Securities for bond compliance work
Summary
The Village council approved a resolution to hire Hilltop Securities Asset Management, LLC to perform compliance work tied to the town's 2018 and 2020 bonds; council recorded a 5-0 vote.
The Village Council approved a resolution to contract with Hilltop Securities Asset Management, LLC to perform bond compliance and related services for the town’s 2018 and 2020 bonds.
Council members voted 5-0 to approve Resolution 04-2021-2025, authorizing an agreement with Hilltop Securities Asset Management, LLC for reenactment and compliance services. The council did not record individual mover or seconder names in the transcript but the motion passed unanimously.
City staff said the town solicited proposals from several firms and recommended Hilltop Securities because it offered a flat fee to complete the required compliance work. A staff speaker identified as Jeff said, “We’ll recommend Hilltop Security Asset Management, because they gave us a flat price to complete everything, and this will work for our 20 18 and 2020 bonds.”
Staff noted the work arises from a timing requirement: certain post-issuance bond tasks are expected to be completed within five years of the bond sale. The staff presentation indicated the 2018 and 2020 bond-related work remains outstanding and that hiring a third party would complete the filings and related tasks.
The resolution authorizes the town to enter the specified agreement; the transcript does not include contract dollar amounts or a detailed scope of work beyond “reenactment, compliance service” language.
Council members did not raise additional conditions or amendments on the record. The vote was announced in open session as "Motion passes 5 to 0."
