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AGENDA ITEM SUMMARY FORM
FILE ID: d. 7— dt 3 Ql
Requesting Department: Finance
Commission Meeting Date: 3/22/2007 District Impacted: None
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Municipal Bond Underwriting Services
Purpose of Item:
It is respectfully recommended that the City Commission accept the recommendation of the City
Manager approving the findings of the evaluation committee pursuant to Request for Qualification
No. 05-06-114, qualifying in rank order the underwriting firms for the position of Senior Managers:
(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); authorizing the City Manager to negotiate and execute
Professional Service Agreements, in the substantially 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;
and should negotiations fail with any of the above mentioned firms, to authorize the City Manager to
negotiate with the next highest ranked firm(s) until a contract has been successfully negotiated.
Funding shall be made available for the firms through the proceeds of the bonds issued.
Background Information:
Municipal Bond Underwriting Services are needed in connection with the advancement of the City's
Capital Improvement Program, with the purpose, at a minimum of developing structure and overall
marketing strategy on bond transactions. The City intends to compose a team of underwriters (the
"Underwriting Team") to serve for five years. The financing team for any transaction will consist of
City staff, bond counsel, financial advisor and the Underwriting Team. The City shall not guarantee
the amount of bond transactions, if any, issued during the five (5) year period. On October 26, 2006,
the Purchasing Department issued Request for Qualification No. 05-06-114. As required by the
Procurement Code, the RFQ was advertised, and sixteen (16) responsive and responsible proposals
were received, discussed and evaluated pursuant to the City's RFQ by an Evaluation Committee
appointed by the City Manager. The Evaluation Committee members made its recommendation to the
City Manager and the City Manager has accepted said recommendation.
Budget Impact Analysis
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact: Final Approvals
,(SIGN AND DATE1
CIP Budget
If using or receiving capital funds
Grants r; Risk Managem t
Purchas' g A �r � Dept. Directo
Chief /L.�/11� City Manager ���