The URL can be used to link to this page

Home My WebLink AboutR-91-0032LN 1 J-91-34 1/3/91 RESOLUTION NO. 91 , 3 2 A RESOLUTION, WITH ATTACHMENT(S), AUTHORIZING THE CITY MANAGER TO PUBLISH A REQUEST FOR PROPOSALS (RFP), IN SUBSTANTIALLY THE ATTACHED FORM, FROM MINORITY AND WOMEN -OWNED BANKS FOR ESTABLISHING SPECIAL BANK ACCOUNTS FOR A PERIOD OF TWO YEARS AND PROVIDING FOR APPOINTMENT OF A SELECTION COMMITTEE. WHEREAS, the City of Miami has a Minority and Women -owned Procurement Program to further the goal of increasing the total annual volume of all procurement expenditures to minority and women -owned business enterprises, authorizing a minority and women -owned business enterprise procurement set -aside for use by the City Manager as he may deem advisable; and WHEREAS, the City Manager has identified three revenue sources that can be deposited in three separate bank accounts when received by the City for a subsequent -wire transfer within five (5) working days into the City's main depository account; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The City Manager is hereby authorized to i ( publish a Request for Proposals (RFP),1/ in substantially the attached form, from minority and women -owned banks to establish, for a period of two years, three bank accounts, with individual accounts being opened in separate banks as follows: a Black- 9 owned bank, an Hispanic -owned bank, and a Woman -owned bank. Section 2. A selection committee is hereby established with one member to be appointed by each member of the City Commission, said committee to review responses and report its recommendation to the City Commission. 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. a ATTACNMEN / C, CONTAINED CITY COvSMISSION MF,rTMG OF JAN 10 1991 �� _ _ 3.2 Section 3. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this 101' ATTES . e-04-�, MA HIRAI CITY CLERK PREPARED AND APPROVED BY: i A. VICKY--LEfVA- ASSISTANT CITY ATTORNEY APPROVED AS TO FORM AND CORRECTNESS: JOItGE L . F RNANDE Z CITY ATTOR EY RFC:gb:bss:M1971 REQUEST FOR PROP08A1.8 j; i MINORITY AND WOMRN-OWNL'D BANKS General Information The City of Miamit under its Minority and Women Procurement Program, to further the goal of increasing the total annual volume of all procurement expenditures to minority and women - owned business enterprises, has authorized the establishment of three depository bank accounts with Black, Hispanic, and Women Owned banks. The depository banks will separately receive one of the following revenues of the Citys - Community Development Grant Funds (Estimated FY-91 Revenue - $11,900,000). -- State Revenue Sharing Revenues (Estimated ICY-91 Revenues - $11,800,000). Half -Cent State Sales Tax Revenue ( Estimated FY-91 Revenue - $1z,000.000). Each of the above accounts will be sot -aside on a random basis to separate Black, Hispanic and Women -Owned banks. Funds received in these accounts will be Automatically transferred by the bank to the City`s main depository account within five (5) working days. The City reserves the right to reject any and all proposals. This solicitation and responses thereto are subject to Federal, State, and local lava. uglification Considerations A. Bank must be a Black, Hispanic or Women -Owned bank in which at least fifty-one (51) percent of said enterprise is owned by Blacks, Hispanics or Women, whose management and daily business operations are controlled by one or more Blacks, Hispanics, or Women. B. Bank must be qualified as a "Public Depository Bank" by the state of Florida. C. Bank must be located in Dade County. D. Bank must demonstrate compliance with the Federal Community Reinvestment Act or other applicable legislation related to investments in areas of low income. 7 91-- 32 N w..r `11� D, Bank must demonstrate compliance with the Federal Oommmnity Reinvestment Act or other applicable legislation related to investments in areas of low income. Description of Services The Bank will receive the funds directly from the State or Federal governments at least on a monthly basis and will transfer the funds to the City's depository account with another bank by wire within five (S) working days of original receipt of the funds, The Bank must also provide monthly bank statements to the City and provide customer services to discuss matters related to the account. 9electinn Criteria The selection criteria for evaluation of proposals area . Completeness of proposal covering qualification considerations , The banks capability to provide requested services. . The bank's willingness to provide voluntary consideration to the City for maintaining the account. The banks will be selected by a Selection Committee appointed by the City Commission. Submission of Proposal Interested banks must submit their proposals certifying to the effect that they qualify as Black, Hispanic or Women -Owned, an applicable. no later than 3:00 P.M. , 1989, tot Director of Finance City of Miami P. 0. Box 330708 Miami, Florida 33233-0708 91-- 32 r, CITY OF MIAM1. FLORIDA 21 INTER -OFFICE MEMORANDUM Honorable Mayor and Members s f� TO. of the City Commission DATE: JA _ j Re sdlu ti onAJuthorizing SUBJECT: the City Manager to Request Proposals from Minority Banks. FROM: Cesar H. REFERENCES: City Mana ENCLOSURES: RECOMMENDATION It is respectfully recommended that the City Commission adopt the attached Resolution authorizing the City Manager to request proposals from Minority and Women -Owned Banks for establishing special bank accounts for a period of two years and providing for appointment of a selection committee. BACKGROUND The Finance Department recommends the establishment of three depository bank accounts under the set -aside provision of the Minority and Women Procurement Program. These accounts will be used specifically to receive the following revenue items: - Community Development Grant Funds - State Revenue Sharing Revenues - Half -Cent Sales Tax Each of these accounts is estimated to receive in excess of $11.5 million annually. Once funds are deposited in these accounts as received from the State and Federal Governments, the banks will have five working days to transfer such funds into the City's main depository account. As background to the City's banking practices, in June 1990 the City entered into a contract with Southeast Bank who was the successful bidder in a competitive request for proposals process. This contract was.approved by City Commission Resolution No. 90- 437 and provides comprehensive banking services to the 'City at very favorable rates until June 1993. The attached proposal is an effort to spread the City's depository banking services and to share some of the business with local women and minority owned banks. . 91-- .z Honorable Mayor and Members of the City Commission December 1990 Page 2 Investments of the City are also made on a competitive basis, as required by Section 47, which states that City moneys "shall be deposited with such responsible banking institutions as furnish such security as the Commission may determine and should agree to pay the highest rate of interest." /mc Of- 32