HomeMy WebLinkAboutR-01-0904J-01-"715
9/13/01
RESOLUTION NO. Lj
A RESOLUT70N OF THE MIA1,1I CITY COMMISSION
ACCF..PTINC, THE RECOMMENDATION OF TELT CITY
MANAGER TO APPROVE THE FINDINGS OF THE
EVALUATION COMMIT'.I'EE, PURSUANT TO A REQUEST FOR
PROPOSALS NO. 00 -v1 -1.84R FOR FINANCIAL
UNDERWRITTNG SERVICES FOR T11F OFFICE OF THE
CI"'Y MANAGER; AUTHORIZING, THE CITY MANAGER TO
ACCEPT THR PROPOSALS AND SECURE THE SERVICES OF
THE FOLLOWING SIX (6) FIRMS, L'I'STED IN RANK
ORDER: J.P. MORGAN; UBS PAINE WERBER; MORGAN
S'TAN'LEY DEAN WITTER; LF11MAN BROTHERS; SALOMON
SMTTH BARNEY; AND JACKSON SECURITTES, WITH
FUNDING AVAILABLE FOR PAYMFN_' TO THE FTRMS
THROUGH THE PROCEEDS OF BONDS ISSUED.
BE IT RESOLVED BY THE COMMISSION OF T111 CITY OF MIAM1:1
FLORIDA:
Sectio; I. The recommendation of the City Manager to accept
the findings of Lhe Evaluation Committee, pursuant. to the Request
for Proposals No.00-01-184R, for financial underwriting services is
approved.
Soction 2. The City Manager is authorized -11 to secure the
services of the foli.owing top six ranked firms, in rank order: J.P.
The he.r.ein authorization is fur.'thcr. !73Ubj0CL to ComP-!J.ance with all
r.equire:ments thaC may be .imposed by the Clt y Atr.orney, i.ncludi.nq but not
l i.mi,red Co ti ose proscxi.br;d by applicable C'i.Ly Char(-er and Code
p2'pViSiOil 5.
CITY Comm�
1Y1tE im", cw
SrF t 3 -1
Reuolution NO.
0
Mongan, UBS Payne wobber., Morgan Stanley Dean Witter, Lohman
Brothers, Salomon Smith Barney, and Jackson Securities, Witt:
funding for- the firms paid from the proceeds of bonds issued.
Sec -:Aon 3. This Resolution shall become effective
immediately upon its adoption and signat=ure of the Mayor..2'
PASSED AND ADOPTED t=his 13TH day c, f September 2001.
JOE CAROLLO,iMAYOR
In accordance with Miami Code Sec. 2-36, since the Mayor did not indicate apnrov^I of
ihis leflisIption by signin(1 it in tlu; dh, it nzited place provided, said
-Wuori1r.,8 effective with thC' ci 'i. -n (10) day; 11'0r11 [! date O nIS5i:" a
regarding same, without the Mayor exercising a e
ATTEST:
•
alter J, em Jerk
I7ALTCR J. FOEMAN
CITY CLERK
APPROV S T FO
AL
LiMAN TL•ARELLO
TTORNEY
97:db:LB: LN
D CORRECTNESS t/
t-Iayol: does slot si.gri +_l:i:s RQsol ution, it :;hal1 bNcome effecLi.ve cit
the end of ten calendar day3 from the elate i.t was passed and adopted. If:
the Mayor vetoes this Resolution, it :Ball become effective inmlediately
upon nvc:r•rlde of the vc :o by the City Comms=ssion.
Page 2 of 2
i !
CITY OF MIAMI, FLORIDA 23
INTER -OFFICE MEMORANDUM
TO: The Honorable Mayor and Members DATE:
Of the City Commission AUG 2 9 FILE'
SUBJECT:
Financial Underwriting
Services
RFP No. 00-01-184R
FROM :REFERENCES :
'6y.
encz
Cer
ENCLOSURES:
RECOMMENDATION
It is respectfully recommended that the City Commission approve the findings of the Evaluation
Committee for Request for Proposal, RFP 00-01-184R Financial Underwriting Services, for the
selection of a team of six (6) underwriting firms to serve the City. The firms are listed below in
rank order of their selection:
1. J.P Morgan
2. UBS Paine Weber
3. Morgan Stanley/Dean Witter
4. Lehman Brothers
5. Salomon Smith Barney
6. Jackson Securities
Funding is available for the firms through the proceeds of bonds issued.
BACKGROUND
To fulfill the last item not completed in the interlocal Government Cooperation Agreement, the
City must once again establish itself in the financial market. In order to do so, the City issued an
1; FP, which was reviewed by the Commission, to hire underwriting firms to secure bonds for the
City. An Evaluation Committee was established to select firms for RFP No. 00-01-184R, which
consisted of the following members.
1. Adolfo Heru•iques, Union Planters Bank
2. Robert Beatty, Miami Herald
3. Merritt Stierheim, Town of Miami Lakes
4. Roger Carlton, Lockheed Martin IMS
5. Scott Simpson, City Finance Director
The Evaluation Committee finished its deliberations on Thursday August 15, 2001, the outcome
of which was the selection of the above-mentioned firms. I concur with the Evaluation
Committee that the firms selected will provide services necessary for the City to successfully re-
eir
the financial market.
01-- 904
August 16, 2001
� BUNION �
PLBA�KRS
Carlos Gimenez, City Manager
City of Miami
P. U. Box 330708
Miami, FL 33233-0708
Re: Committee Recommendation for Financial Underwriting Services
Dear Carlos:
The selection committee for RFP No. 00-01-184R, Financial Underwriting Services, for the City
of Miami finished its deliberations on Thursday, August 15, 2001, with the recommendation that
the City employ a team of six underwriters to serve the City. These firms are listed below in rank
order of their selection:
1. J. P. Morgan
2. UBS Paine Weber
3. Morgan Stanley/Dean Witter
4. Lehman Brothers
5. Salomon Smith Barney
6. Jackson Securities
The members of the Committee, which 1 was pleased to Chair, were:
1. Robert Beatty, Miami Herald
2. Roger Carlton, Lockheed Martin IMS
3. Scott Simpson, City Finance Director
4. Merrett Stierheim, Town of Miami Lakes
5. Adolfo Henriques, Union Planters Bank
The Committee scored each of seventeen proposals and recommended the top scoring six firms. It
was interesting to me that after each member scored their proposals individually, the top ranking
firms were almost unanimously selected. We believe that these firms will provide the City of
Miami with the breath and depth to successfully re. -enter the financial markets.
I speak for the entire committee in saying that it was a pleasure serving the City in this capacity
and wish the City success in re-entering the bond market.
Sincerely,
Approved b Adolfo Henriq s
PP 1'' Chairn�an
imenez
City Man ger
2800 Ponce de Leon Boulevard • Coral Gables, Florida 33134 • (305) 774-5280 - Fax (305) 774-4597
01- 904
LA -
�
s
�C%j
August 16, 2001
� BUNION �
PLBA�KRS
Carlos Gimenez, City Manager
City of Miami
P. U. Box 330708
Miami, FL 33233-0708
Re: Committee Recommendation for Financial Underwriting Services
Dear Carlos:
The selection committee for RFP No. 00-01-184R, Financial Underwriting Services, for the City
of Miami finished its deliberations on Thursday, August 15, 2001, with the recommendation that
the City employ a team of six underwriters to serve the City. These firms are listed below in rank
order of their selection:
1. J. P. Morgan
2. UBS Paine Weber
3. Morgan Stanley/Dean Witter
4. Lehman Brothers
5. Salomon Smith Barney
6. Jackson Securities
The members of the Committee, which 1 was pleased to Chair, were:
1. Robert Beatty, Miami Herald
2. Roger Carlton, Lockheed Martin IMS
3. Scott Simpson, City Finance Director
4. Merrett Stierheim, Town of Miami Lakes
5. Adolfo Henriques, Union Planters Bank
The Committee scored each of seventeen proposals and recommended the top scoring six firms. It
was interesting to me that after each member scored their proposals individually, the top ranking
firms were almost unanimously selected. We believe that these firms will provide the City of
Miami with the breath and depth to successfully re. -enter the financial markets.
I speak for the entire committee in saying that it was a pleasure serving the City in this capacity
and wish the City success in re-entering the bond market.
Sincerely,
Approved b Adolfo Henriq s
PP 1'' Chairn�an
imenez
City Man ger
2800 Ponce de Leon Boulevard • Coral Gables, Florida 33134 • (305) 774-5280 - Fax (305) 774-4597
01- 904
•
SUMMARY OF TOTAL SCORES
Firm Number Score w/
1 Firm 15
81.8400
2 Firm 8
80.0100
3 Firm 5
79.9400
4 Firm 17
79.8650
5 Firm 11
75.6500
6 Firm 10
75.5650
7 Firm 14
73.5100
8 Firm 12
68.7600
9 Firm 16
68.6500
10 Firm 2
68.5650
11 Firm 4
67.3550
12 Firm 7
64.1650
13 Firm 13
64.0100
14 Firm 9
61.4900
15 Firm 3
60.1400
16 Firm 6
53.6800
17 Firm 1
44.7350
Summary 01
Financial Underwriting Services
Proposers for RFP No. 00-01-1848
1 Howard Gary & Company
2 Guzman & Company
3 Loop Capital Market
4 Raymond James & Associates
5 Morgari �$tanley Dean Witter, .
6 MR Bea! & Company
7 Siebert Brandford Shank & Co.
8 -.UBS Paine; Webber Inca,"
9 Apex Pryor Securities (Rice Financial)
10 Jacksopi'Secarities Inc.
11 3alomoriSmith samey
12 William R. Hough & Co.
13 First Southwest Co.
14 Advest Financial
15 JP.Morgan.' ._...:' ....
16 Suntrust Equitable Securities
17 LehmanBrothers'
Ran in :
1 JP Morgan
2 UBS Paine Webber Inc,
3 Morgan Stanley Dean Witter
4 Lehman Brothers
5 Salomon Smith Barney
6 Jackson Securities Inc.
Page 1
01. -- 9 0 4
0
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO; Carlos Gimenez DATE. July 27, 2001 FILE:
City Manager
sus,ECT: Approval of Evaluation Committee
For RFP 00-01-184R: Financial
FROM: l �� REFERENCESUnderwriting Services
Rfi��tlV t r
Assistant City Manager ENCLOSURES:
I am requesting your approval to appoint the following individuals to the Evaluation Committee
to evaluate proposals received for Financial Underwriting Services, RFP 00-01-184R.
Name Organization
Mr. Adolfo Henriques President, Union Planters Bank
Mr. Robert Beatty General Counsel, Miami Herald
Mr. Merritt Stierheim City Manager of the Village of Miami Lakes
Mr. Roger Carlton Vice President -Strategic Initiative, Lockheed Martin IMS
Mr. Scott Simpson Director, Department of Finance
The City has received 18 proposals from interested proposers.
If this request meets with your approval, please indicate your approval by signing below:
"Approved / sapproved:
Zt!�
CAG/RJN
C: Judy S. Carter, Director of Purchasing
0i.- 904
CITY OF MIAMI OF THE CITY CLERK
HID SECURITS' LIST
BID ITEW FTNANCTAI [INDERWRITING SERVICES
BID NO: RFP NO. 00-01-184R
DATE HID(S)OPENED: JUNE 13, 2001 TIME 11:00 A.M
BIDDER TOTAL. BID
MOUNT
BID BOND (ER)
CASHIER'S CHECK
FORD & ASSOCIATES, INC.
LINQ FINANCIAL
HOWARD GARY & COMPANY
GUZMAN & COMPANY
LOOP CAPITAL MARKET
RAYMOND JAMES & ASSOCIATES
2 ), received
"' Person receiving bid(s) `r )envelops on behalf of
on (o
(Date)
CITY OF MIAMI OF THE CITY CLER&
BID SECURITY LIST
BID ITEM: FINANCIAL UNDERWRITING SERVICES
BID NO: RFP NO. 00-01-184R
DATE BID($) OPENED: JUNE 13, 2001 TIME 11:OOA.M.
( U ) envelops on behalf of
(./
(Date)
2of2
SENT BY:CITY OF I11A1I1 : 6- 6- 1 : 6:01A11I : PROCCRDIENT i►1GNIT.-
Cit IJ of 4Riztmi
IUDY1 (.AKIF.R a
ur mn
Director
o-`
•cru.. t+•°
ADDENDUM NO. I
VIA REGULAR MAIL
RCP NO. 00-01-1848 JUNE 4, 2001
FINANCIAL UNDERWRITING SERVICES
305 858 1610: 1/ 1
CARMS A. GIMINEZ
City Manager
Please refer to the Attachment for the Questions from prospective Proposers and the Answers to
those Questions by the City.
BE ADVISED THE DUE DATE AND TIME FOR RECEIPT OF PROPOSALS HAS
BEEN CHANGED. PROPOSALS ARE NOW DUE ON WEDNESDAY, JUNE 13=
2001 AT I I AM.
ALL OTHER TERMS AND CONDITIONS OF THE RFP REMAIN THE; SAME.
SINCERELY,
qCD S. C TER
PROCUREM
THIS ADDENDUM IS TO BE SIGNED AND DATED BY PROPOWRS AND SUBMITTED AS
PROOF OF RECEIPT WITH THE SUBMISSION OF PROPOSALS.
SIGNATURE: NAME OF FIRM:' �"l_
?!0370 AJ.I�',)�
DATE: 90-'1114V -Jnr IOaa
U3AW3d
06/0R/2001
UE1'AKfMFNT OF PURCI IAS1N(:/444 S.W.:nrJ Awuiuu, Glh Fluor/htiilmi, Fluridr.lJ1301110S141G•i9110/faM, 13051410•1925
L••M it Addlew Inn(nv+ew(i.mrami. I uv WtuAt! Mldtos: hllp9/(4.nui1mi.11.uV
hi,idiuK Addrknw f .O BOX J 11708 ,MlJnll, fl )111).0708
i_C !GS/PC 503 Rev. 12/89J Routing Forward White and Ganary to G.S•A. (Procurement management) ano retain rmK copy.
DISTRIBUTION: White - G.S.A.; Canary - Department
City .of Miami
REQUISITION FOR ADVERTISEMENT
This number must
appear in the
advertisement.
1. Department: '• 2. Division:
,MANAGER'S OFFICE
3. Account C . e nufnber:
A• Is this_ a confirmation:
5., -Prepared.. by:
.
01000.26001.6330:28713.
❑ Yes ❑ No
6. Size of advbrtfsement;
7• .Start e:
8. Telephone' number:
9 1 dinber'of`'tlirtes ihls-adveHisoment is o,brei
10: Type of advertisement:
blit;had:• ONCE
7LI Legal ❑ Qlassiflpd
Display
11-.. gornirks:
FINANCIAL UNDERLMITING SERVICES
gP: NO::.00=Q1-8:�i ..
Pulilloatlon' Date(s) of
{ Advertisement Inybice No,
Amount
MIAMI -REVIEW
BON. BUYER
is ='' ,-, ,.
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13.
Approved
❑ Disapproved
Department Director/ Designee Date
Approved for Payment
Date
i_C !GS/PC 503 Rev. 12/89J Routing Forward White and Ganary to G.S•A. (Procurement management) ano retain rmK copy.
DISTRIBUTION: White - G.S.A.; Canary - Department
CITY OF MIAMI
ADVERTISEMENT FOR PROPOSAL
w O
Scaled proposals will be received by the City of Miami City Clerk at his office located at
City Hall, 3500 Pan American Drive, Miami, FL 33133 for the following:
RFP NO. 00-01-184R FINANCIAL UNDERWRITING SERVICES
DUE DA'Z'E: 11:00 A.M.', JUNE 8, 2001
(Deadline for Request of additional information/clarification:
May 29, 2001)
Detailed specifications for this RFP are available upon request at the City of Miami,
Purchasing Department, 444 SW 2nd Avenue, Sixth Floor, Miami, FL 33130 or download
from City's website at www.ci.miami.fl.us. Telephone No. (305) 416-1906.
THIS RFP SOLICITATION IS SUBJECT' TO THE "CONE OF SILENCE" IN
ACCORDANCE WI'rn MIAMI-DADE COUNTY ORDINANCES 98-106 AND 99-1.
(PLEASE PRINT THIS SECTION IN BOLD PRINT)._
Carlos A. Gimenez CITY OF MIAMI
City Manager
AD NO. 5799
ADWinllnderw