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Council renews Valley View Consulting investment-adviser contract through 2027
Summary
The council approved a two-year renewal with Valley View Consulting LLC to continue independent investment-adviser services through Dec. 31, 2027, with a $10,000 annual fee and optional extensions; motion carried 6–0.
City staff recommended renewing the city's agreement with Valley View Consulting LLC to continue serving as an independent investment adviser for municipal investable funds.
Speaker 4 told the council the current agreement was extended on Nov. 27, 2023, and staff recommended renewal for two additional years ending Dec. 31, 2027, with options to extend further in one- or two-year increments. Staff said no substantive changes were made to the agreement and directed the council to Appendix A for the fee schedule, which lists an annual fee of $10,000. Speaker 4 noted additional fees could apply if the city issued debt (not greater than 8 basis points) and up to $5,000 per selection process if Valley View assists with selecting a primary bank depository.
A motion to renew the Valley View Consulting LLC agreement for two years was moved and seconded; the clerk recorded the motion carried 6 to 0.
