cover
TO: Mayor Richard C. Irvin
FROM: Jolene Coulter, Director of Purchasing
DATE: October 22, 2021
SUBJECT:
Provide authorization to consent to contract assignments in the event of vendor mergers or acquisitions.
PURPOSE:
The purpose of this resolution is to authorize the Chief Financial Officer and the Director of Purchasing to consent to assignment of contracts/agreements in the event of vendor mergers/acquisitions.
BACKGROUND:
The City has received a request to consent to the assignment of a vendor's current contracts with the City. Since the contract was awarded, the vendor underwent a merger with a different company. As it exists now, while an assignment is not prohibited by the contracts, there is no authority in the current contracts for the City staff to consent to this assignment. In most cases, City contracts permit assignment with consent of the City, however, the authority to provide that consent is not addressed in the contract language.
DISCUSSION:
The proposed resolution will authorize the Chief Financial Officer and the Director of Purchasing, in consultation with the Law Department when appropriate, to consent to assignment of contracts/agreements in the event of vendor mergers/acquisitions. While this scenario is not overly common, this would provide for a more efficient process and negate the need to seek City Council approval each time for similar agreements.
IMPACT STATEMENT:
The proposed resolution will allow City staff to respond to and work with City vendors quicker and more efficiently as these requests are made.
RECOMMENDATIONS:
That the Council approve this Resolution.
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
title
A Resolution authorizing the Chief Financial Officer and the Director of Purchasing to consent to assignment of contracts/agreements in the event of vendor mergers or acquisitions.
body
WHEREAS, the City of Aurora has a population of more than 25,000 person...
Click here for full text