2/16/1988 - Laserfiche WebLink

Home Browse Search

FEB 161988 BOOK 70 F-ACE890 DISCUSSION OF FINANCIAL ADVISOR CONTRACT WITH M. G. LEWIS The Chairman referred to the following memo: TO: Board of County Commissioners FROM: DATE: February 10, 1988 Charles P. Vitunac, County Attorney RE: DISCUSSION OF FINANCIAL ADVISOR CONTRACT WITH M. G. LEWIS BOARD MEETING - FEBRUARY 16, 1988 The County presently has a personal services contract with M. G. Lewis for that company to serve as our financial advisor. That firm has recently entered bankruptcy proceedings due to a falling out between the major stockholders. This has resulted in a change in personnel available to work on our account, and makes it timely for us to reconsider our contract with M. G. Lewis. Our liaison with M. G. Lewis, Mr. Art Diamond, will be in the audience to make alternative proposals to the County. Chairman Scurlock reported that apparently Dr. Fishkind has formed his own company, and he believed we now need some kind of formalized situation. In our present agreement with M. G. Lewis, we reference both Art Diamond and Hank Fishkind. Commissioner Eggert noted that the wording on the second page of the contract with M. G. Lewis & Co. specifically says we can terminate the agreement any time "in the event Arthur H. Diamond and/or Henry Fishkind are no longer associated with or employed by M.G.Lewis & Co and she felt we theoretically are in termination. Mr. Diamond agreed it reads that it is the sole option of the county to terminate the agreement. He wished to advise the Board that he spent his last day with M. G. Lewis Friday, and he would suggest that the county send a letter to M. G. Lewis notifying them that the contract is no longer valid. Discussion continued regarding termination, and Administra- tor Balczun noted, for purposes of the record, that it was clearly our intent when we drafted and negotiated this contract 72