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TO AUTHORIZE THE MAYOR TO ENTER INTO CONTRACT WITH REDTREE INVESTMENT ADVISORS FOR INVESTMENT ADVISOR SERVICES.
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WHEREAS, New Albany Capital Partners, our current investment advisor, is merging with RedTree Investment Group; and
WHEREAS, a new investment advisor contract needs to be initiated; and
WHEREAS, there will be no disruption to our current investments or the trustee, US Bank, who is currently holdings our investments on our behalf; and
WHEREAS, RedTree Investment Group will provide the same fee structure as what we currently have with New Albany Capital Partners.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, COUNTY OF FRANKLIN, STATE OF OHIO:
Section 1. That the Mayor is hereby authorized to enter into agreement for Investment Advisory Services with RedTree Investment Group, 4016 Allston Street, Suite 2, Cincinnati, OH 45209 agreement attached as EXHIBIT A, and made a part herein.
Section 2. That this ordinance shall be in full force and effect after passage by this Council and 30 days after date of signature approval by the Mayor.