HomeMy WebLinkAboutR-95-0395J-95-426
5/3/95
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RESOLUTION NO. 9 1 Ili c V 5
A RESOLUTION SELECTING AND APPOINTING
UNDERWRITING TEAMS FOR THE FORTHCOMING CITY
OF MIAMI'S NEGOTIATED TAX-EXEMPT AND TAXABLE
NOTE AND BOND FINANCINGS FOR A TWO-YEAR
PERIOD AND AUTHORIZING THE CITY MANAGER TO
NEGOTIA`.PE AND EXECUTE AGREEMENTS FOR SAID
UNDERWRITING SERVICES, IN FORMS ACCEPTABLE TO
THE CITY ATTORNEY.
WHEREAS, the City of Miami, Florida, expects to market
negotiated tax-exempt and taxable note and bond financings; and
WHEREAS, the City released a request for proposals with the
purpose of selecting underwriters to be appointed on a rotating
basis to underwrite the sales of such bonds and notes; and
WHEREAS, the City Commission appointed a selection committee
to evaluate the proposals related to the appointment of these
underwriters; and
WHEREAS, pursuant to the Charter of the City, and Section
218.385, of the Florida Statutes, and other applicable provisions
of the law it is now necessary to select and appoint underwrite
s
teams;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
3tr:�l.;E:INr, OF.
MAY 1 1 j995
RV-201ution No.
95- �5
Section
1.
it is
hereby ascertained, determined, and
declared that
it
is in the
best financial interest of the City to
accept the proposals of the firms designated_ herein below, and
said firms are hereby selected and appointed, in the order
listed, as underwriters to the City of Miami for its tax-exempt
and taxable note and bond financings, for a two-year period:.
Team A
Senior Manager: Rauscher Pierce Refsnes, Inc.
Co -Senior Manager: Smith Barney, Inc.
Co -Managers: Grigsby Brandford & Co., Inc.
Smith Mitchell Investment Group, Inc.
Samuel A. Ramirez & Co., Inc.
Senior Manager: William R. Hough & Co.
Co -Senior Manager: First Southwest Co.
Co -Managers: FAIC Securities, Inc.
W. R. Lazard, Laidlaw & Mead, Inc.
Muriel Siebert & Co., Inc.
Section 2. The City Manager is hereby authorized) to
9
negotiate and execute agreements, in forms acceptable to the City
Attorney, with the underwriters for said services.
1 The herein authorization is further subject to compliance with
all requirements that may be imposed by the City Attorney,
including but not limited to those prescribed by applicable City
Charter and Code provisions.
-2- 95- 3:j5
k- -
Section 3. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED THIS 13TH day of July , 1995.
Fk
STEPHCI.ARK, MAYOR
ATTEST:
WALTER J 0 MAN, CITY CLERK
PREPARED AND APPROVED BY:
RAFAEL 0. DIA
DEPUTY CITY/ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
-3-
9 5 - %%?? Rk
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�r�V f CS1 0- !-�o u 4t3rL�1 Lltr l . Ur tI NkNUt-
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO Honorable Mayor and mombers
of the City Commission
FROM Cesa
City
i .VIYI 3 e
m
DATF ; FILF
MAY - 4 1995
SU[}JECT :
REFLRFNCES:
tNCLOSURFS
City Commission
,Agenda item
IL 1s respectfully recommendea that the enclosed resolution be
edoptod colocting and appointing underwriting teams for the
forthcoming City of Miami's negotiated tax-exempt and taxable
note and bond financings for a two-ypnr period and authorizing
the City Manager to negotiate and execute agreements for Rhid
underwriting services, in forms acceptable to the City Attorney.
B�cz�GRovN�:
The City issued a request for proposals (RPP) for the selection
of underwriting firms With the purpose of appointing teams to
sell the forth coming negotiated bond deals of the City. As a
result of the RFP tie City received 27 proposals from interested
firms. A oelection committee vial appuinted by the City
Commission as follows:
Mikki Canton
Boris Roman
Daryl Sharpton
Luis Ajamil
Manny Diaz
1
Mayor Clark
Vice -Mayo.• Plummer
Commissioner Dawkins
Commissioner Gnrt
Commissioner De Yurre
The selection committee evaluated the proposals based on the
following RVP nr•.itoria:
1. Creativity and responsiveness to the City'R
requirements.
2. Mxnagemont's commitment to public £finance.
3. Experience
4. Minority compliance
95- 395
k.-
SENT BY: 5- 4-85 ; 6:46AM ; Utt'i. Ur t1AAALt-+ OU000Wru04 v/ U
U
Honorable Mayor and Members
at tho City commission
Pages -2-
S. Personnel assigned
6. Underwriting, trading, and sales capability
7. Capital. Pngition
8. proposed compensation
9. Proposer's presence and commitment to the City
The selection committee is rAcommanding the Appointmont of the
underwriting teams as follows:
. TAN"
Senior Manager: Rauschar Pierce Refe nes, Inc. r�
Co -Senior Manager: Smith Barney, Inc. "-
Co -Managers: Grigsby Brmndford & Co., Inc.
Smith Mitchell Xnventment Group, Inc.
Samuel A. Ramirez A Co., Inc.
Team -
Senior Manager:
Co -Senior Manager:
Co -Managers:
—2—
William R. Hough & Co.
Firfst. Southwest. Co.
FAIC Securities, Inc.
W. R. Lazard, Laidlaw & Mead, Inc.
Muriel Siebert & Co., Inc.
95- 3-95
M