HomeMy WebLinkAboutR-86-0245J-86-333
RESOLUTION NO. 8(;-2 5, .
{ A RESOLUTION ACCEPTING THE BID OF REVIEW
FINANCIAL PRINTERS FOR PRINTING THE
PRELIMINARY AND FINAL OFFICIAL STATEMENTS FOR
THE CITY'S 1986 GENERAL OBLIGATION BOND SALE
AT A GUARANTEED MAXIMUM PRICE OF $99000 TO BE
PAID OUT OF THE BOND PROCEEDS, COST OF
j ISSUANCE ALLOWANCE.
WHEREAS, bids were received or. February 14, 1986 by the
`A City's financial advisors, James J. Lowrey b Company, for the
printing of preliminary and final official statements for the
City's 1986 general obligation bond sale, and
WHEREAS, invitations were mailed to six (6) potential
suppliers and five (5) bids were received; and
WHEREAS, the City Manager and Director of Finance
w recommend that the bid received from Review Financial Printers be
j accepted as the lowest responsible and responsive bid;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
4 CITY OF MIAMI, FLORIDA:
y;w Section 1. The February 189 1986 bid of Review
Financial Printers for printing the Preliminary and Final
<9 ➢ t
if �#•
Official Statements, Notice of Sale, and letter for the .1986 City
CyfiSA
of Miami, Florida General Obligation Bond Sale at a guaranteed
maximum price of $9,000 is hereby accepted, with funds therefor
Y5;'� 4rfFr
' hereby allocated from the bond proceeds, cost of issuance
allowance.
Section. 2. That the City Manager is hereby authorized
to instruct the Assistant Chief Procurement Officer to issue a
Purchase Order for this service.
PASSED AND ADOPTED on this the 1 of-h_ day of ril,
1986.
*VIER L. SUARfZ
M A Y 0 R
ATTEST:
MATTY HIRAI,
CITY CLERK
CITY COMMISSION
ME£`1lNC,* OF
APR �E�24.
Y
PREPARED AND APPROVED BY:
ROBERT F. CLARK
CHIEF DEPUTY CITY ATTORNEY
F,
f'
APPROVED ASzfO FORM AND CORRECTNESS:
CIT ATTORNEY
sG -245..
kt
.M�l�
PREPARED AND APPROVED BY:
ROBERT F. CLARK
CHIEF DEPUTY CITY ATTORNEY
APPROVED
ATTORNEY
AND CORRECTNESS:
ok CITY OF MIAMI. rLORIDA Of
INFER-017FICE MEMOi:ANbUM
4
TO: The Honorable Mayor and
Members of the City Commission
FROM: 1 nt
Cesar H. Odio U1�
City Manager
DATE` March 26, 1986 FILE:
SUBJECT: Agenda Item: Financial
Printing Services
REFERENCES:
ENCLOSURES:
It is recommended that the City Commission
adopt the attached Resolution accepting the bid
of Review Financial Printers for printing the
preliminary and final official statements for
the City's 1986 general obligation bond sale,
at a guaranteed maximum price of $9,000, to be
paid out of the bond proceeds, cost of issuance
allowance.
The City has established a fiscal policy of selling once a year those
general obligation bonds required to provide funding for capital
projects authorized by its citizens, such as sewers, highways and fire
and police facilities. For 19860 we have tentatively scheduled such a
sale in May.
One of the numerous steps needed to go to market is the selection of a
financial printer who will produce the preliminary and final official
statement. To this effect, the City's financial advisors requested
bids form six financial printers, of which five responded. It should
be .pointed out that the number of financial printers is limited due to
the sophistication of equipment and personnel required. All of the
printers contacted were non -minority, since neither the Finance
Department, nor the City's financial advisors knew of any minority
financial printers.
The bids received are as follows:
Total Bid
Total
Printer
Locution
Price
Maximum
Review Printers
Miami
$ 69988
$ 91000
Renaissance
Printers
New York
89350
$,350
Ben J. Tyrell
New York
129862
18,964
R. D. Donnelley
& Sons
New York
14,051
259600
Appeal Printing
New York
15,305
15,305
n
1W
U
The Honorable Mayor and
Members of the City Commission
Page - 2 -
It is recommended that the bid of Review Financial Printers, the only
Miami firm responding to the request, be selected since their total
bid price of $6,988 is the lowest, and the guaranteed maximum of
$9,000 is reasonable. In addition, their being located in Miami will
facilitate the numerous changes that will be made to the statements so
that the City, legal counsel and financial advisors are satisfied with
the final document.
cc: Law Department
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