HomeMy WebLinkAboutR-07-0166City of Miami
Legislation
Resolution: R-07-0166
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-00379 Final Action Date: 3/22/2007
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ACCEPTING THE RECOMMENDATION OF THE CITY MANAGER APPROVING
THE FINDINGS OF THE EVALUATION COMMITTEE, PURSUANT TO REQUEST
FOR QUALIFICATIONS NO. 05-06-114, THAT THE TOP -RANKED FIRMS AND
MOST QUALIFIED TO PROVIDE MUNICIPAL BOND UNDERWRITING SERVICES
FOR THE POSITIONS OF SENIOR MANAGERS, IN RANK ORDER ARE: (1) UBS
SECURITIES (SR. MANAGER) AND JP MORGAN (CO -SR. MANAGER); AND FOR
THE POSITION OF CO -MANAGERS: (1) SUNTRUST CAPITAL MARKETS
(CO -MANAGER), (2) RAYMOND JAMES (CO -MANAGER), AND (3) LASALLE
FINANCIAL SERVICES (CO -MANAGER); AUTHORIZING THE CITY MANAGER TO
NEGOTIATE AND EXECUTE PROFESSIONAL SERVICE AGREEMENT(S), IN THE
SUBSTANTIALLY ATTACHED FORM(S), ON AN AS -NEEDED BASIS, FORA BASE
TERM OF TWO (2) YEARS WITH THE OPTION TO RENEW FOR UP TO THREE
(3) ADDITIONAL ONE (1) YEAR PERIODS; FURTHER AUTHORIZING THE CITY
MANAGER TO NEGOTIATE AND EXECUTE AN AGREEMENT WITH THE NEXT
HIGHEST -RANKED FIRM(S) SHOULD NEGOTIATIONS FAIL WITH ANY OF THE
ABOVE MENTIONED FIRMS, UNTIL A CONTRACT HAS BEEN SUCCESSFULLY
NEGOTIATED; ALLOCATING FUNDS FOR SAID FIRMS THROUGH THE
PROCEEDS OF BONDS ISSUED.
WHEREAS, municipal bond underwriting services are needed in connection with the
advancement of the City of Miami's ("City's") Capital Improvement Program, with the purpose, at a
minimum, of developing structure and overall marketing strategy on bond transactions; and
WHEREAS, pursuant to Request for Qualifications ("RFQ") No. 05-06-114, the City sought
proposals from qualified, and experienced underwriting firms to provide municipal bond underwriting
services on an
as -needed basis; and
WHEREAS, the top -ranked firms and most qualified to provide municipal bond underwriting
services for the positions of Senior Managers, in rank order are: (1) UBS Securities (Sr. Manager) and
JP Morgan (Co -Sr. Manager); and for the position of Co -Managers: (1) Suntrust Capital Markets
(Co -Manager), (2) Raymond James (Co -Manager), and (3) Lasalle Financial Services (Co -Manager);
and
WHEREAS, funding shall be made available for the firms through the proceeds of bonds issued;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by
reference and incorporated as if fully set forth in this Section.
City of Miami
Page 1 of 2 File Id: 07-00379 (Version: 1) Printed On: 3/21/2017
File Number: 07-00379 Enactment Number: R-07-0166
Section 2. The recommendation of the City Manager approving the findings of the Evaluation
Committee, pursuant to RFQ No. 05-06-114, that the top -ranked firms and most qualified to provide
municipal underwriting services for the positions of Senior Managers, in rank order are: (1) UBS
Securities (Sr. Manager) and (2) JP Morgan (Co -Sr. Manager); and for the position of Co -Managers:
(1) Suntrust Capital Markets (Co -Manager), (2) Raymond James (Co -Manager), and (3) Lasalle
Financial Services (Co -Manager), is accepted.
Section 3. The City Manager is authorized{1} to negotiate and execute Professional Services
Agreement(s), in substantially the attached form(s), on an as -needed basis, for a base term of two (2)
years, with the option to renew for up to three (3) additional one (1) year periods, with funds allocated
for the firms, through the proceeds of the bonds issued.
Section 4. The City Manager is further authorized{1} to negotiate and execute an Agreement with
the next highest -ranked firm(s), should negotiations fail with any of the above mentioned top -ranked
firms, until a contract has been successfully negotiated.
Section 5. This Resolution shall become effective immediately upon its adoption and signature
of the Mayor.{2}
Footnotes:
s{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} If the Mayor does not sign this Resolution, it shall become effective at the end of ten calendar
days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become
effective immediately upon override of the veto by the City Commission.
City of Miami Page 2 of 2 File Id: 07-00379 (Version: 1) Printed On: 3/21/2017