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Gulf Shores council unanimously authorizes agreement with Davenport & Company for high school financing advice
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Summary
The Gulf Shores City Council on Feb. 16 unanimously adopted Resolution No. 7086-26 authorizing the mayor and city clerk to execute an agreement with Davenport & Company, LLC for supplemental financial advisory services related to Gulf Shores High School financing; the resolution allows either party to terminate with 30 days' written notice.
The Gulf Shores City Council unanimously adopted Resolution No. 7086-26 on Feb. 16 authorizing Mayor Robert Craft and the city clerk to execute an agreement with Davenport & Company, LLC to perform supplemental financial advisory services related to Gulf Shores High School financing.
City Administrator Jon Walker presented the proposal to retain Davenport & Company, saying the firm would provide supplemental advisory services for the high school financing. Councilman Philip Harris moved to adopt the resolution; Councilman Stephen E. Jones seconded the motion. The council voted 6–0 in favor, and Mayor Robert Craft declared the resolution duly adopted.
The resolution, presented in substantially the form shown to council, specifies that either party may terminate the agreement with 30 days' written notice and that, if terminated, Davenport will be paid only for services provided and expenses incurred through the date of termination. The resolution takes effect upon adoption.
The text brought to the council does not specify a dollar amount for the advisory contract or identify a funding source for any fees; those details were not provided in the meeting record. The next procedural step is execution of the agreement by the mayor and city clerk as authorized by the council.
No public comment was recorded during this special meeting on the item; the council moved on to other staff reports and then adjourned.