Fort Walton Beach — 03-08-11 regular — reading text

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For Immediate Release December 15, 2010 For More Information R, Paul Maxwell, VP & Marketing Communications Director Forbes taps Hancock Bank among America’s ‘Most Trustworthy’ for second year in a row GULFPORT, Miss. (December 15, 2010) — Hancock Holding Company (NASDAQ; HBHC), parent company of 112-year-old Hancock Bank, recently made Forbes’ “100 Most Trustworthy Companies” for the second consecutive year — one of only 66 banks nationwide on this year’s elite roster. Hancock scored 99 on the 100-point Accounting and Governance Risk (AGR) scale used to assess the true quality of corporate accounting and management practices of companies considered for the list. “We are honored with this recognition,” said Hancock Bank President and CEO Carl Chaney. “Hancock Bank was founded 112 years ago on principles of honor and integrity — values that remain core to how we do business. Our associates’ commitment to these unwavering ideals over the last century have sustained Hancock Bank's strength and stability through some of the best and the most challenging times in America’s history. We consider this accolade a testament to the continued confidence of our shareholders, customers, and communities and remain very grateful for the ongoing opportunity to earn their enduring trust.” Forbes commissioned Audit Integrity, an independent Los Angeles-based financial analytics firm, to compile the top-100 list by examining more than 8,000 companies across America. Audit Integrity looked beyond the raw data typically reported in companies’ income statements and balance sheets, using a proprietary AGR analysis of accounting and governance factors historically linked to fraud and increased shareholder risk. Overall, fewer than five percent of public companies surveyed make Audit integrity’s list. For the complete 2010 list, go to http://www.forbes.com/2010/08/05/most-trustworthy-companies-personal- finance-audit-integrity.htm!| . Hancock Bank consistently rates as one of the nation’s strongest, safest financial institutions. U.S. Banker magazine listed Hancock 12" in America’s Top 25 financial institutions, and the American Bankers Association Banking Journal named Hancock Bank one of America’s Top 25 banks. For the past 21 consecutive years, BauerFinancial, a leading independent bank analysis and research firm, has ranked Hancock Bank in the top 20 percent of the country’s most financially sound banks. Hancock Holding Company has assets of approximately $8.2 billion. More corporate information and e-banking are available at www.hancockbank.com. —30- Attachment: Hancock Bank (revised proposal) Ft. Walton Beach (1175 : Lease-Purchase Financing) CITY OF FORT WALTON BEACH, FLORIDA RFP #11-014 REQUEST FOR INTEREST RATE PROPOSALS FOR LEASE-PURCHASE FINANCING Due Date: Thursday, February 17, 2011 Due Time: 2:30 PM CST 8.4.b (1175 : Lease-Purchase Financing) 3 £ = oO z oO 2 < 2 uw Ww n 4 x Oo “4 > 4 Ww wn < Ww aud i. fa) ims + = = a cs Lg +e ro eo £ = 5 £ < CITY OF FORT WALTON BEACH, FLORIDA REQUEST FOR INTEREST RATE PROPOSALS LEASE-PURCHASE FINANCING I. Introduction A. Objectives City of Fort Walton Beach, Florida (the “City”) is submitting this request for interest rate proposals (the “RFP”) to identify the institution(s) that can provide the City with a bank qualified fixed rate lease(s) to purchase a Ladder Truck, two (2) mowers, and one (1) Groundsmaster as more fully described herein (the “Equipment’”) at the lowest overall borrowing cost and terms most favorable, pursuant to certain conditions as determined by the City. The City reserves the right to award the leases to more than one provider if it is deemed to be in the best interest of the City. 3 £ ff c o & irs o a o = g J oa o wo Fy o wl os 2 B. Bidding Instructions 1. Electronic Bids — Response to this RFP should be submitted on or before 2:30 PM, CST, Thursday, February 17, 2011 to Marissa Wortman, Public Financial Management, Inc. (“PFM”) at the following email addresses: Marissa Wortman Senior Managing Consultant Public Financial Management, Inc. 300 South Orange Avenue, Suite 1170 Orlando, FL 32801 (407) 648-2208 wortmanm@pfm.com THE CITY RESERVES THE RIGHT TO REJECT ANY AND ALL PROPOSALS, TO WAIVE ANY INFORMALITIES OR IRREGULARITIES IN ANY PROPOSALS RECEIVED, OR TAKE ANY OTHER SUCH ACTIONS THAT MAY BE DEEMED TO BE IN THE BEST INTEREST OF THE CITY. 2. Bid Response Each bid should address all pertinent areas and be specific. Any conditions should be clearly stated. The failure to disclose substantive terms, conditions and covenants may be considered cause for the proposer’s proposal to be rejected by the City. Attachment: RFP 11-014 FOR LEASE-PURCHASE FINANCING final 3. Questions, Additional Information Contact with City personnel regarding this RFP will be grounds for climination from the selection process. The City shall not be responsible for oral interpretations given by any employee or its representative. The City will not be liable for any expenses incurred in connection with the preparation of a response to this RFP. 2 > Packet Pg. 38 8.4.b The proposer shall examine all proposal documents and shall judge all matters relating to the adequacy of such documents. Any inquiries, suggestions or requests concerning clarification or solicitation for additional information shall be submitted to PFM, Marissa Wortman. PFM will be reviewing the proposals and will recommend to the City the proposal(s) that offer(s) the lowest overall borrowing cost and most favorable terms. 4. Tentative Schedule The City will attempt to adhere to the following schedule: February 2, 2011 RFP Issued February 17, 2011 Written responses due prior to 2:30 P.M. CST February 23, 2011 Selection of Lease Provider(s) (pending City Council approval) March 22, 2011 Award of the Lease(s) by City Council Pre-closing and Closing dates to be determined by the parties. {1175 : Lease-Purchase Financing) The City reserves the right to alter scheduled dates if necessary. C. Security for the Lease(s) 1) The City will be obligated to pay Lease Payments under cach Lease only as may lawfully be made from funds budgeted and appropriated for that purpose during the City’s then current fiscal year. Should the City fail to budget, appropriate or otherwise make available funds to pay Lease Payments under any Lease following the then current term of the Lease, the Leasc(s) shall be deemed terminated at the end of the then current term. The City reserves the right to substitute Equipment of the samc quantity and gencral type with the approximate equal value, utility and remaining useful life as the Equipment so replaced. The Lease(s) is not intended to create a mortgage of or a security interest in the Equipment and the Lessor may not exercise any foreclosure-type remedies if an Event of Default occurs. Any net proceeds from the exercise of any remedy upon an occurrence of an Event of Default or nonappropriation by the City shall be applied in the following order of priority: FIRST, to pay all of lessor’s costs, charges and expenses incurred in taking, holding, repairing, selling, leasing or otherwise disposing of Equipment, then SECOND, to the extent not previously paid by the City, to pay lessor all Lease Payments under the applicable Lease through the termination date of the current lease term, then THIRD, to pay the purchase price applicable as of the end of the then current term, as set forth in the Lease for such Equipment, then FOURTH to pay any remainder to the City; provided that if such remedy is exercised with respect to more than one Lease, Equipment listed in more than one Lease or rights under more than one Lease, then to amounts due pursuant to such application of moneys pro rata among the Leases or Equipment, as the case may be. 3 Attachment: RFP 11-014 FOR LEASE-PURCHASE FINANCING _final 2) The City will also consider proposals that require security for the Lease(s) to be in the form of a covenant by the City to the extent permitted by and in accordance with applicable law and budgetary processes, to appropriate in its annual budget for each fiscal year, non-ad valorem revenues sufficient to pay debt service on the Lease(s) becoming due in such Fiscal Year. The covenant will not constitute a lien on any revenues and the City will not be restricted from pledging non-ad valorem revenues in the future. The obligation of the City to make appropriations from its non-ad valorem revenues will be subject to the funding of essential governmental services. The City will not be required to maintain any service or program that