HomeMy WebLinkAboutR-84-0871J-R4-709 q q
RESOLUTION NO. — 1,
A RESOLUTION AUTHORIZING THE DIRECTOR OF
FINANCE TO DISTRT_'311T:E AND PUBLISH THE ENCLO-
SED REQUEST FOR PROPOSALS (REP) TO FEDERAL
AND FLORTDA-CHARTFRET) BANKS LOCATED WITHIN
THE CITY LTMITT.S FOR ALL BANKING SERVICES RE-
QUIRED BY THE CITY FOR A THREE YEAR PERIOD.
WHEREAS, Section 18-04' the City of Miami Code author--
izes and direck-..^ the DirActar of Finance to request bids from
all federal. and Florida -,chartered banks located within the City
limits for all, banking cervices required by the City for a three--
year period, and
WHEREAS, it is in order at this time to procure a
contract for a three year period;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
'ITY OF MIAMI, FLORIDA:
1. The Director of Finance is hereby authorized to
distribute and publish the attached Request for Proposal (RFP) to
Federal and Florida -chartered banks within the city limits to
provide all banking services for the City.
PASSED AND ADOPTED this 31st day of July
1984.
MAURICE A. FERRE
M A Y 0
_S T : ?K�
ALPtI C. OidGZE C%'IY CL
PR1~F'tzF(I I.t f i l.) Api— i ovE" > BY:
:
ROBER t F .
DEPUTY Cl"Y
APPR0''1'1 Vie`:: 10 1 011i M AN'D CORRECTNESS:
CITY CC7iOUSSIO
MEETING OF �
Y. ,V{ ( v, ii is $ ..
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131
TO.
Howard V. Gary
City Manager
CM OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
FROM: Carlcs E. Garcia __,,"-7:)
Director of Finance
DATE: July 9, 1984
SUBJECT: Agenda Item
REFERENCES:
ENCLOSURES;
It is recommended that attached
resolution authorizing the Finance
Director to distribut.0 and publish
the enclosed req,,iost for proposal
(RFP) to Fcdlc,a]. nd Flori.da-chart-
ered ba-iik:_ the CitY
limi,,,,7 j services re—
quired lay t,hc-, City f-1)" three. year
period, be adoplted-
FILC
Section 18-2 of the City Code directs the Director of Finance to
request bids from aill. federal and Florida -chartered banks located
within the City for all banking services required by the
City fcr a three year period.
At this ti,-_ it- -Ls neco�,,sary to procure a new contract for such
banking IT'he attached RFP requests the following
4 on
informa4-.1
1. A completed bid form with the estimated total cost of services.
Note: The cost of services will be offset against the required
compensa-tint; balances to be kept in the bank accounts. The
City will not disburse cash to compensate bank for services.
2. Banks audited financial statements for the last two years.
3. Names and titles of personnel that would be assigned to City's
accounts.
4. Bank' ,3 ,`Iffirmative Action plan and employment statistics for
last two years, broken down by officers, non -officers, Blacks
and Hispanic.�.
5. Commercial lr,an statistics t.r�o year's , with, separate
f i g U r e.-
A Selectior., wil' p o nt t� ('I b y t_l i e C i t y 1� a na g e r to
evaluate tht,: &nd will :;lake a 1-e-' �ic)inmendation to the City
Manager for zubirils:�ion to the City Commission for final approval.
cc: Law Department
SALS
FOR BANKI'TG SERVICES
FOR THE CITY OF MIAMI, FLORIDA
TABLE OF CONTENTS
PAGE
I. INTRODUCTION
A. General Background
B. Instructions
C. Selection Criteria
D. Terrr.-4 ind Conditions
E. Mi.ncri_ty Representation
II. SCOPE OF BANKING SERVICES
A. General
B. Main Depository
C. Main Operating
D. Payroll
E. Workers` Compensation
F. Investments - Safekeeping Agent
G. Computerized Services
H. Statement and Advice Frequency
III. BIDDING
A. Explanation of Bid Form
B. Service Charge Calculation -Variable Bid
C. Compensaiiog Balance - Fixed Bid
D. Deductible
IV. EXHIBITS
EXHIBIT I -- Bid Form
EXHIBIT II - Bid Calendar
I. INTRODUCTION
A. General. Information
The City of Miami, by way of this document, requests
propo5al.3 and competitive quotations of prices to pur-
chase the hanki..ng services as .^pecified herein.
Section 18-2 of the City of Miami Code. calls for the
placement of banking serv:i.ce,^ with a Florida bank for
three years on a con, petit :i.ve ba,^i.s.
To be eliEin.lc to ,mibml it a hid and proposal for consider-
ation by t;ho City, the Bank must be.
1. On the i.i.st. oA Certified Public Depositories as desig-
nated by t:he Office �-)f the State Treasurer and as requi-
red by the Flcrida Security for Public Deposits Act,
Chapter 280, Florida Statutes.
2. Located within the territorial limits of the City of
Miami, Florida
3. A member of the Federal Reserve System.
4. An originating Depository Financial Institution
authorized by the Federal Reserve to originate direct
deposit.
-` If any bank is in doubt as to whether it meets the above
-=Y stated eligibility requirements, the Bank should submit
,j a written inquiry to Carlos E. Garcia, Director of Fin-
ance, City of Miami, 3500 Pan American Drive, Miami,
Florida 33133.
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B. Instructions:
Bidders are requested to provide the following information:
1. Enclosed Bid Form must be used. If an individual. banking
service r,2qui -nm^nt is bid on, then the bid be, assumed
to meet or -,,XCecd the rcquirement:3 as stated, if a service
requiremont- can not be met by the bidder, then the phrase "NO
BID" shoul,"I be (.,ntercd on the the bid form for that Service
requirement. In tho case of a 111O BID" remark, the bidder
may off(:r Inn, 311C.erna'Give service. The Evaluation Team
reserves the prerogative to r(,j(,(,t to rejeOG the bidder's
entire proposal or, account; of Such deficiency. All bids must
be submitted in 3calcd envelopes bearing on the outside the
name of the bidder, the address, ti-le title of the proposal,
and the words "City of Miami Bank-inE Services." It is the
sole responsibility of the bidder to ensure that the bid
arrives on time at the right place. The bid must be signed
in the name of the 'Ldder and must bear the signature in
longhand of the person or persons duly authorized to sign the
bid. The name, office address, and office telephone number
of the point of contact must be clearly identified.
2. Audited financial. statements for the last two years.
3. Names and titles of personnel that would be assigned to
service the City': account:.
4. Affirmative Aotion plan and actual employment statistics for
last two years, includin, separate information for:
a) offieerti
b) non -officers
c) Blacks
d) Hispanics
5. Commercial loan statistics for the last two years, providing
separate figures for Hispanic and Black clients.
Multiple bids and alternate proposals may be submitted by the
same bidder's).
84, —87 1
#'R`
0
Completed bid forms and proposals together with five (5)
copies are to be returned by competing bidders no later than:
to the:
City of Miami
Office of the City Clerk
P. 0. Box 330708
Miami, Florida 33133
or else submitted in person to that office at 3500 Pan
American Dri.vc bar the same date and time. All bids must be
open for 60 days.
A prospective Bidders Conference will be held on:
at the first floor "Committee of the Whole" conference room
City of Miami
City Hall
3500 Pan American Drive
Miami, Florida 33133
Questions relating to these specifications will be answered at
that time. All bidders must register at this time if they wish
to be on the mailing list for further questions and answers.
C. Selection Criteria
The evaluation process will consist of the following criteria:
1. Completeness of proposal as specified in section II.
2. Proposed prices per unit and/or coinpen atirg balances
required.
? 3. WillLnt -Inc.c ? s;ai.'_1 _ty` t. r:e ed required services.
4. Affirmati.,(: Ac--1*c:r >O ic- nd perforn:ance as attested by the
Banks s <in, ,-)1. utir.°. _:ct.' ce .
r e''
5. Doan pclic-y to promoting Black and Hispanic
bush eu c . t 1:a C'it ,' OrdInance 9775 established a
minority vt!:Qo t.rc sr r. pith the goal of -awarding 50% of the
City's exper:ditures for goods and services to Black and
Hispanic businesses.)
-4- 8..
The relative importance of the above criteria will be
determined by the Evaluation Team prior to their final
ranking of th( bide and proy)nsals. The Ev;;Iuntion Team
may reque.,J. a hoarinF, or b-,-'rings with any (-.)r .0-1. oi'
these to forTinulat,r plans in greater detail.. or t.(- olarif,r
unclear areas. Prices of ill -ems bid or the amounts that
are to be received for a new price will. not; 1)('-' raised or
lowered during these hearings, althougrh 0 a IGh(' - total. price
t"
of the contracts) will be affected by modifications in
service rcquiT-OMCnt3. Any time during there hearings,
the Evaluation Team may choose to modify its choice of a
selected bidder or biddei-2, if the result,-, of the discus-
sions make such a change or such chance,7., to tic in the
best intlerc2t of the City. A tc.,1tC'LJvc cont4"�;ct or
contracts uill be for nmul�ttcd as a result. of these hear-
ings. Subsequent award of contract by the City Commis-
sion will be final and contract signing will follow.
D. Terms and Conditions
1. The City reserves the right to reject any or all bids, to
waive any irregularities or informality in any bids or in
the bidding, and to accept or reject any item or
combination of items. The aulard of bid, if made by the
City of , will be to the previously qualified bid-
der(s) viho-se bid best coi,piies wi.1L,11 all the. recuirevients
set for in tlhtu bid docui-!,ent in t. I i c, v n t -hi t t h e
b i d d e r to I - i c) , i i t I -, (: b i d i t - d c dt d (, e s n L e x e� c u 11- e a
contract u'i th I; n th i Y.", Y fter th(, at,,ard c-, f bid,
the City riiL�y tivt� NCII'10% V.C' '-'LI(:h of _ntent to
award the; biQ to the next Tric,6t qua-lificd bidder, or to
call for new bids, and may proceed to act accordingly.
M,
The bid form indicates the number of transactions antici-
pated; and although thig is the City's best estimate of
volume, the City is in no wry tho:^n niinimum
volumes howeirnri, th<� CiGy will. mr-Ice adju:�I-J-,nn",.s IGO- the
I l-od upon the pt'r itom Cost- if
compensntinp, hnlnnc(� L -)nI I
t r a n:3a c t, J- n n!7 :7 1 j b s i'.n n 'I j- a I I y change form the estimates
contained th(n-oin.
2. Bidder: ~hall thoroughly examine and be familiar with
these opcoificalt-Jonz. The failure or omission of any
bidder to rcooi-ve or examine this document shall in no
way relieve any bidder of obligations with respect to
this bid or thci subsequent contract. The submission of a
bid shall be taken as evidence of compliance with this
paragraph.
3. Recapitulations of the work bid upon, alternate proposal,
or any other modifications from the services requirement
can result in the rejection of the bid as not being
responsive to this RFP. However, if the primary bid
response is acceptable to the Evaluation Team, mitigating
comments on each exception are deemed reass-onab"Le, then
alternate proposals from the bidder submitting the
acceptable primary bid will also be considered.
4. The City reserves the right to establish demand deposit
accounts in other banks or receive the same or different
services freer other banks as needed to conduct City
business.
5. Under the Florida Public Records Act and the Florida
"Sunshine" laws, all bid and proposal materials, the
results of the City's evaluation, and the prods -dings of
the subsequt:nt (-,ontract ni�Cotfat-,ic,is 11- e a 1 0
11 pC-n to
public inptction. Bank-- ?!,Iou%.Id t-ak� ncte of
this as it relates to any proprietary inforniatior-i that
might be included in their bid and proposal package.
I el
E. Minority Representation
The bidder must agree that there will be no discrimina-
tion as to race, color, creed, or national origin in
regard,._ I;(-) oblAgatJono,, work once
under i; h (- t c z - m - of V, 1) i _,1 Contract.. Tn i d d it, i c, n the
bidder mu.:it 7'1--3tc the cxtcnt, 'Un which il' be
represented in f ul f i 11 j. n F, this contract r, h n u I d it be
awarded to the bidder.
The bidders by submitting q response to this pi-nourement
request, agree to comply with Executive Order No. 11246
entitled "Equal Employment Opportunity" a- amended by
Executive Ordcr No. 1137', as supplemented by the Depart-
ment of Labor Regulation5 (41CFR. Pat 60). The bidder
also agrees to present an affirmative action plan that
declares non-discrimination on the basis of race, color,
religion, creed, national origin, sex or age, and that
specifies target goals and target dates to assure imple-
mentatioo of that plan.
II. SCOPE OF BANKING SERVICES
A. General:
The banking services detailed in this section provides
for these banking services to be performed for the City
on a contractual basis for three years.
It is the intent of the City to llhavti: (,n(-- single bank
provide all of thV bani),cir-1j:; :3urvicu net_�dS of' 1he City;
however', the Ev_--ivaticri Teem tli<:4 .5pli4 up thc:se services
among sevet al banl<6 if it would be more beneficial to the
City.
B. Main Depository
City funds collected daily will be deposited in this
account the same day. Checks deposited will be available
the next day if deposited in the bank by the time of day
the bank normally closes its transactions for the day,
which is currently 2:00 p.m., except for State Treasurer
checks and Dade County checks in excess of $100,000 drawn
against ].00ril hanks delivered before noon; thorn items
will havn game dy i.l.ity. Disbursement of funds
in this account" sill be made by: �
1. Internnil bank transfers.
2. Wire i.i ansf^r.:> per City of Miami instructions. Each
transaction will be showni on the statements individually,
i.e., no sum„ing or netting of transactions. All deposit
redit transactions will have a reference number.
C. Main Operating:
The City's main operating demand deposit account will be
a checking account. The City will issue checks for
payment to the drawing hank. Approximately 2,500 checks
amounting to $11,000,000 , will be issued monthly.
D. Payroll:
The City is currently on a biweekly payroll basis paying
every other Friday some 4,000 employees. Net pay amounts
to approximately 41,800,000 biweekly. It is the intent
of the City to continue with this payroll system; how-
ever, mainly, due tc employee union contracts, this system
may change.
The Dank will purcha--e on behalf of City employees,
appraximrtely 200 United States Series EE Savings Bonds
(or subsequent Series Bcnd ') per pay period, purchased
thrown tii City' p<SWirt"r�l1. d d�,cvioni pl.4n. Such bonds
shall !:e iv.sU(,,u and rjui'J-d L)y ti p: I a,,Fw d_r,c ; y to the
employ�;�e 'I" h tr C i L =44.1 l furni-Ji i he Bank
a magnetic er r ct r coraputer tape; in ` fora acceptable
to the Fedt ral Reserve Bank for the Bonds to be issued
each paydays
accompanied by the City's check payable to the Bank. The
Bank agrees to transfer to the Federal, Reserve Bank,
immediit.r�l. f 3�,+� r-ece .pi of aai_d check, the amount of the
Savings Plon(t I11 cgrzes of multiple henAficiar-
ies, the hrgn)' wi.1.1 track of i.nsuinE
The Bank should the abIn to impl_rmont a d _', rrc` deposit
payroll. ^7v, stsr�m if the Cite ^n desires for a.i,l. Ci.t.y em-
ployees to all b,)nk locations in tho South Florida Feder-
al Reserve District. The City toil.). provido a payroll. tape
for use by the Federal. Reserve. The Federal_ Re; crvr� sail)
process the tape creating a direct; deposit to each em-
ployee's account. There will. be no charge to City em-
ployees for paycheck cash services.
E. Workers' Compensation:
This account would be exclusively used for paying Work-
ers' Compensation claims. Payments are every Friday
amount to approximately 250 checks per week with a total
dollar amount of $25,000 per week.
F. Investments - Safekeeping latent:
The awarded bank must also crake arrangements with a New
York City Bank to take delivery of securities on certain
transactions. The custodian, on investment purchases,
would not release monies until the security has been
safekept; and conversely, on investment sales, securities
would not be released until monies have been received.
G. Fiscal Agent
Where the City issues bonds; the payment of interest and
principal thereon will be made by the fiscal agent.
Monthly staten.it:nts must be provided on each bond account
specified in the bond indenture.
. 9,.
L41-110�
Computerized Services:
All demand and time deposit accounts maintained must be
computerized so that reconciliation can be performed and
so that ", a
U kpow by :00 _m. daily.
On higl q Cl n :7, pj-j,nci,pnjly the Main Operating
Demand D,- p r , ;1ecoi3t1t the I-Int,kcr-11 Compens,-)tion Demand
Deposit Accouill'.. nd t:Jje P;:,,yj-n]j Dcposit Account,
a magnetic t,? *.. (I J. n a 3. 1 h cks
p (-- G .1 c, pa- i mus' conta e - i t c mn
paid during the month with dctails for each item:
...Paid date
Cheek Number
...Amount Paid
The magnetic tape should be 1600BPI, unlabeled, with an.
80 character record 3i.7(- and blocking factor of 50. The
layout of the rcquired informat-ion is:
Character Column Description
From To
1 6 Clear date (YYMMDD)
7 15 Bank account number (same
as recorded in MICR on
checks)
16 21 Cheek number
30 39 Amount (Pennies in 38 &
39)
This information should be in EBCDIC format.
All paid checks must be returned in check number sequence
on all demand deposit accounts.
I. Statement U-nd 11requenc
All advice--, affect -i iq,L, a
debit or
credit memo type
transaction
must bc pclduced
daily and
mailed to the City.
Statements
c.'. -nl� . ac-.,
on all u-ccunts will
be produced monthly,
except for
Main D�:po5itcry
account where statentlent'*s must
be produced
on a daily basis
and held
for City pickup.
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111. Biddies,
A. Explanation of Bid Form:
The blank bid form (Exhibit 1)-or copy thereof is
required of ,01. bidders. No bid will be considered
without bi,d nrnnuni.. k)l.aeed n thi-7, frrr. Zf the
b i d d i n E lb inz'. i .'" -11r1"3i1 .n t,() jTtrnt or nY,cc,(,d 1111r rngi. 1,re.
went" a:' 7,voi. icd, V.1 r-n the ,,rordini; 111NO 511)°" �zhould be
d i
e placid i,n t:.ir�!? cc x.n.ri.c1�� column
Under the V A HJ APF,,E bid method, nol-J.inl monthl.; rnr prices
will be counted and tho volume of t:.rF ns,9ctionrd will be
computed
t:r� detcrminc the
ccmpcnr�E,t.i.ng ba.i_ance re-
quired ,
Under 1--her FIXED bid
mct".hr..d"
the compensating
balance
bid will be a minimum
balance
guaranteed by the
City of Miami throughout the three-year contract.
All bids are final. It is the prerogative of the
Evaluation Team to eliminate any service bid on, if in
their opinion the fees for providing these services are
excessive; or if administratively the bidded service
could be performed an alternative way. It is also up
to the discretion of the Evaluation Team to split up
the banking services among two or several banks if in
the best interest of the City.
B. Service Charge Calculation - Variable Bid Only:
Monthly, the awarded bunt; will prepare a billing for
services rendered. This billing must be presented in a
format simJllLr to the: bidding forrii with a total for all
the service oha.'i €rs cr tl e Month.
The total set.v: ce chl rLe ttre�reby evaluated will then
be converts-.d t;r 11ft(quired to Support Servic-
es." This will bL Qal.culcte:d by div-iding the
total s rvir.e c'tr l - :,rrc°arre;l by tlrc rrir;;ttity average
yield on 13-week Treasury Bills issued during that
month.
11.
A simple.. monthly average of new Treasury Bill issues as
reported by the Wall Street Journal published average
discount rate, would be lased as the earning factor.
For exn f :�„ a nico, l.et: �i 7-ay that, the newly issued
Treasury yiijis dated on Thursday in June 1984 were as
follows:
Average Discount Rate
of 13-Week Bills Date of Issue
9. 5 T$
9.67 6/12/84
9.79 6/19/84
9.85 6/25/84
38.96 Total
9.74 Average
And therefore the earnings factor for conversion of
service charges to compensating balances for June,
1984, would be 9.74%•
Example of calculation:
Charge for Services
6,000.00
Average Daily Collected
Balance
750,000.00
Earning FGactor(see above)
9.74
Balance Required
739,219.80
(6,000 -.0974 x 360 - 30)
Average Daily Collected
Balance
750,000 .00
Balance Required
739,219.80
Difference
10,780.20
Times the Earning Factor
(.0974 x 30 - 360)
.0081
Earning Credit
87.32
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C.
D.
The actual average daily collected balance of all non -
interest bearing accounts (including such accounts as
paying agent) would be cllcultlnted and compared to the
amount of-)n (-ntinF b;nlnnr5ts re�quirnd.
., ( , [) e, 1, :7 The monthly
calcul,atinn would enibln t.'Tlo C4ty to adjust upward or
downward J,ts uninvcsted fund:-.
A maximum of one (1) working day will be permute-d for
uncoll,ected balances. However, State Treasury Checlrls and
Dade County checks drawn on local banks in excess of
$100,000 would be made good on the day of dcpo3iL-1 when
received by 12:�:00 noon.
There is no provision for Federal. Reserve Requirements.
ink;Palsnce
Fixed Bid:
If the award is based on a fixed bid basis, -the City will
guarantee a miniraum raverage daily balance in uninvestd
deposits of the bidded amount over a three year period.
Within each year of the contract period, the City will
guarantee a minimum actual average daily balance equal to
the bidded compensating balance required.
Deductible:
Only those services listed on the bid form will be subject
to a $100 per month deductible. Other services requested
by the City of services performed related to a depository
or other account vihich the City maintains but, is not listed
on the bid fortr, w-_'11 be subject to a $100 per month deduct-
ible. For exaliniple, f the City requests a stop payment
order on a. ohucke.ss ueci an.d the b&nk ncrin_lly C.h.arges
$10.00 for thi-l', the bz..,nk, could n-ot bill- the City
for these, services, unllesW the total. amount of' services
performed in on calendar month exceeds $100.
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The provision also requires that each bidder also submit a
comprehensive "List of Service Prices." This list will be
considered ill. -inclusive and the prices shown on the list
will be good fnr !;he t7,ntire length of the bank services
contract
Should ol,.Aici- :3rrvior- be provided, the amoun", of these
services will. be calculal-,od c-,nd if in total they exceed
$100 for the month, tho(, ill total. wl-11 �C included
in calculalJ-nthe earn inpL�:7or-dilor caninF.- - charge.
Should the services provided be, less than 1100 in one
monthly period, no service charge will be allowed.
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EXHIBIT II
BID CALENDAR
DATE
Approval of RFP BY City of Miami
RFP Issue Date
Pre -Bid Question & Answer Period
Pre Bid Conference
Bid Submission Date and Time
Evaluation of Bids
Manager Recommends Successful Bidder
City Commission Awards Contract
Execution of Bank Agreement
Testing Period
Implementation Date
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